The Munich-based truck and rail supplier Knorr-Bremse intends to increase its dividend for the past year by 13 percent.

The brake group is proposing a dividend of EUR 1.64 (previous year: EUR 1.45) per share, as announced on Thursday. That is 46 percent of net profit, Knorr-Bremse explained. The bottom line rose by just under 14 percent to EUR 576.2 million (2022: 506.3 million), according to the annual report published on Thursday. The company is generally aiming for a payout ratio of 40 to 50 percent.

(Report by Alexander Hübner. Edited by Olaf Brenner. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)