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SAP upbeat for 2011 and raises dividend


SAP upbeat for 2011 and raises dividend


Business software maker SAP is forecasting double-digit revenue growth this year and has raised its dividend to shareholders by 20 percent.

“We showed rock-solid revenue across the globe (in the fourth quarter), particularly in the fast-growing emerging markets,” Co-Chief Executive Bill McDermott said.

The German company is seeking to refocus investor attention on its prospects after a damaging court battle with US rival Oracle.

It says it has increased to one billion euros the amount it has put aside to settle a data theft case with Oracle.

A US jury ruled in November that SAP must pay Oracle $1.3 billion damages, much more than SAP’s original estimate.

SAP said it intended to file post-trial motions asking the court to reduce the damages or order a new trial. Depending on the outcome, it may consider an appeal.

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