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Feb. 6, 2019, 3:35 a.m. EST

Daimler cuts dividend, sees 'slight' growth ahead

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By Max Bernhard

Daimler AG (DAI.XE) said Wednesday that earnings slumped in the fourth quarter, despite the company generating higher revenue and selling more cars, and declared a lower dividend for the year.

After-tax profit plunged to 1.64 billion euros ($1.87 billion) from EUR3.22 billion in the same period a year earlier. Revenue grew 7% to EUR46.61 billion.

Earnings before interest and taxes fell 22% to EUR2.67 billion from EUR3.42 billion.

"For Daimler, 2018 was a year of strong headwinds. This is also reflected in our financial results and our share price," Chief Executive Dieter Zetsche said.

Daimler declared a dividend of EUR3.25 a share compared with EUR3.65 a year ago.

The maker of Mercedes-Benz cars said that for 2019 it expects slight growth in unit sales, revenue and EBIT.

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