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By Nathan Allen
Alstom SA (ALO.FR) on Tuesday raised its dividend after booking gains from the sale of three joint ventures to General Electric Co. (GE) and posting higher earnings in the 2019 fiscal year.
Net profit for the year ended March 31. rose to 681 million euros ($762.3 million) from EUR475 million a year earlier, the French train maker said.
Sales climbed to EUR8.07 billion from EUR7.95 billion, Alstom said.
However, analysts had expected profit of EUR765.2 million on sales of EUR8.09 billion, according to a FactSet-compiled consensus.
Alstom said it will propose a dividend of EUR5.50 a share, up from EUR0.35 a share a year earlier.
The company will provide guidance during its capital markets day on June 24.
Write to Nathan Allen at firstname.lastname@example.org
(END) Dow Jones Newswires
May 07, 2019 01:27 ET (05:27 GMT)
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