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Osram: raises dividend after 'strong' fiscal year.

(CercleFinance.com) - German lighting maker Osram raised its dividend by 10% on Tuesday after delivering a "strong" 2016/2017 fiscal year.

In the last fiscal year, Osram saw revenue rise by over 8% to over 4 billion euros, on the back of strong demand for its high-tech products, particularly opto-semiconductors.

The Munich-based company, which was previously a unit of industrial giant Siemens, also reported a 6.6% rise in operating profit, which reached 695 million euros as at 30 September.

The group said it expects continued growth in FY 2017/2018, and plans to make further capital expenditure.

Osram also revealed the financial details of its planned alliance with German car parts maker Continental in the automotive sector. The 50:50 joint venture, which will be called Osram Continental targets mid-triple-digit millions of euros in revenues.

After launching in fiscal year 2018, the joint venture will operate in the market as an independent company and will be fully consolidated in Osram's financial statements.

Osram shares were up 3.3% at 68.1 euros after all these encouraging comments.

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