Mercedes owner cuts its dividend as profits fall 22%

German carmaker Daimler has cut its dividend as fourth-quarter operating profit fell 22% as trade wars and rising costs for developing electric and self-driving cars hit profits at its Mercedes-Benz unit.

Daimler said the return on sales at Mercedes-Benz cars fell to 7.3% in the fourth quarter from 9.5% in the year-earlier period.