CAPTION: Heidelberg Materials sees decline in profit but lifts annual dividend. (picture alliance/dpa/Uwe Anspach)
German building materials group Heidelberg Materials announced a higher dividend for 2022, despite a decline in profits.
Subject to the approval of the shareholders, the company will pay a dividend of €2.60 ($2.84) per share for the year, 8% higher than last year's dividend of €2.40 per share.
The board of the company, formerly called HeidelbergCement, will propose the dividend to the Annual General Meeting on May 11.
In its fiscal 2022, HeidelbergCement reported a decline in profit to €257 million, down from €391.7 million in 2021.
However, operating profit climbed to €42.5 million as against €12.8 million a year ago.
Operating revenue also grew to €1.038 billion from €946.6 million in the previous year.
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