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Siemens upbeat on growth

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Siemens upbeat on growth

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Signalling its confidence in the future, Siemens is sharply raising its dividend to shareholders.

Europe’s biggest engineering company announced a surge in net profit of nearly two thirds for its current fiscal year and forecast a sharp rise in operating earnings next year.

Siemens promised future growth from emerging markets and its renewable energy unit which contributed most to this year’s profit increase.

Net earnings in fiscal 2010 were 4.068 billion euros.

Siemens, whose products range from fast trains and steam turbines to hearing aids and light bulbs, plans to increase its dividend by 69 percent to 2.70 euros per share.

Its 400,000 employees worldwide will get bonuses totalling 310 million euros.

The company is also seeking to be more shareholder friendly and transparent after a crippling bribery scandal in 2007.