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DAIMLER-BENZ MAINTAINS DM 13 DIVIDEND IN SPITE OF LOWER EARNINGS

 STUTTGART, Germany, April 2 /PRNewswire/ -- Daimler Benz, Germany's largest industrial group finished the 1992 business year with a net income of DM 1.45 billion (US$ 0.92 billion) compared to DM 1.94 billion (US$ 1.24 billion) in 1991. This was approved in a meeting of the company's supervisory board today. The company will propose a dividend payment of DM 13 (US$ 8.8) per share. Total dividends distributed will then amount to DM 604 million (US$ 385 million).
 Net income for Daimler-Benz AG, the group's holding company, is DM 5.2 billion (US$ 3.3 billion) including extraordinary profits in the amount of DM 4.5 billion (US$ 2.9 billion) which will be transferred to retained earnings. These extraordinary profits result from the adjustment of valuation principles for pension fund provisions and other reserves in the financial statements of Daimler-Benz AG and Mercedes- Benz which were adapted to the accounting principles introduced in the group's consolidated financial statements in 1989. As a result, uniform valuation principles are used for all corporate units of the Daimler- Benz group, thus increasing the compatibility with other international companies.
 Earlier this week, Daimler Benz had reached an agreement with the Securities and Exchange Commission (SEC) to become the first German company to obtain a full listing for its shares on the New York Stock Exchange. During the negotiations between the SEC chairman Richard Breeden and Daimler-Benz chief financial officer Gerhard Liener, the company has agreed to bring its reporting practices in line with U.S. standards, thus gaining access to the world's largest stock exchange.
 -0- 4/2/93
 /CONTACT: Roland Klein of Daimler-Benz AG, 011-49-711-17-93635, or (fax) 001-49-711-17-94531, or Bernard Harling of Daimler-Benz North America Corporation, 212-308-4535, or (fax) 212-826-0356/


CO: Daimler-Benz AG ST: New York IN: AUT SU: DIV

TM-TS -- NY001 -- 2355 04/02/93 07:37 EST
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Publication:PR Newswire
Date:Apr 2, 1993
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