BMW proposes 12% increase in dividend despite profit slump

Bayerische Motoren Werke AG (BMW) said full year net profit fell by 3.6% to €1.947bn as costs for new products resulted in a 4.2% fall in earnings in the company's core automotive division.

BMW said pre-tax profit - or profit from ordinary operations - fell by 2.8% to €3.205bn, this was still within the range of market forecasts (€3.175bn - €3.320bn).