By Olaf Ridder

Infineon Technologies AG's Chief Financial Officer Sven Schneider said Tuesday that the company intends to pay a dividend of 0.27 euros ($0.31) for the 2020-21 financial year, marking a return to pre-pandemic levels.

In the past year, the chip maker had lowered the payout by EUR0.05 to EUR0.22 as it expected further risks connected to the pandemic.

Looking ahead, electrification and digitalization are going to drive the business, Mr. Schneider said at the company's capital markets day.

Infineon targets sales growth of at least EUR5 billion in the next four years, he added. In 2024-25, it expects to book revenue of more than EUR16 billion, including targeted sales synergies from the acquisition of U.S.-based company Cypress last year, he said.

Write to Olaf Ridder at olaf.ridder@wsj.com

(END) Dow Jones Newswires

October 05, 2021 13:03 ET (17:03 GMT)

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