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The company proposed a dividend of 2.56 euros per preference share and 2,554 euros per ordinary share.

Separately, management and the supervisory board on Friday proposed to raise the dividend for 2017 to 3.90 euros per common share and to 3.96 euros per preference share, from 2.00 euros and 2.06 euros respectively for the previous.

Separately, management and the supervisory board on Friday proposed to raise the dividend for 2017 to 3.90 euros per common share and to 3.96 euros per preference share, from 2.00 euros and 2.06 euros respectively for the previous.

VW's management and executive boards proposed to pay shareholders a dividend of 0.11 euros per ordinary share and of 0.17 euros per preferred share, down from a payout of 4.80 euros per common share and 4.86 euros per preference share for 2014, reflecting the cost-cutting drive.

Volkswagen's preference share price was up 1.4 percent at 107.30 euros, making it the strongest riser in Germany's main stock index, which was 0.5 percent higher.