Schering to raise dividend by 20%

New York, Dec. 20 - Schering AG said it plans to increase the dividend on its common stock by 20% over the previous year's level.

The Berlin, Germany, pharmaceutical company said the higher level reflects "continuous positive business development in 2005."

Shareholders will be asked to approve the payment of €1.20 per share at the annual general meeting on April 19.

Schering also said it has settled with Bayer AG a dispute over warranty claims asserted by Bayer. This settlement relates to the sale of Schering's stake in the plant protection company Aventis CropScience in 2002.

The settlement will result in Schering reversing provisions that will cause a one-time benefit of €70 million to €100 million.

That positive influence will partially compensate for potential negatives, Schering said. These include charges from restructuring measures related to Schering's Focus program.

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