Draegerwerk slashes dividend on disappointing earnings, restructuring

Draegerwerk AG & Co KGaA

02/02/2016 17:32

BERLIN, Feb 2 (Reuters) - German medical equipment supplier 
Draegerwerk  DRWG.DE  on Tuesday cut its dividend due to 
disappointing earnings and the costs of restructuring. 
    The company said it was proposing a dividend of 0.13 euros 
per common share and 0.19 euro per preferred share for 2015, 
down from 1.33 and 1.39 euros a share for 2014. 
    "As a result, the shareholders are also making a 
contribution to the restructuring and to overcoming the 
company's tense economic situation," it said.  
    Draegerwerk, which warned on 2015 profit twice last year, 
said its order intake in the fourth quarter declined by 5.2 
percent, which would lead to subdued net sales in the first 
quarter of 2016.  
    According to preliminary figures published on Tuesday, its 
2015 EBIT margin was 2.6 percent, down from 7.3 percent in 2014 
and near the bottom of its most recently forecast range of 
2.5-4.5 percent.  
 
 (Reporting by Victoria Bryan; Editing by Alexander Smith) 
 ((victoria.bryan@thomsonreuters.com; +49 30 2888 5169; Reuters 
Messaging: victoria.bryan.thomsonreuters.com@reuters.net 
Twitter:@vl_bryan)) 
 
Keywords: DRAEGERWERK RESULTS/