UPDATE 1-Dormakaba's annual sales beat estimates aided by price hikes

(Adds background, outlook, EBITDA margin and dividend from paragraph 3)

Aug 31 (Reuters) - Dormakaba slightly beat full-year sales expectations on Thursday, as price increases helped the security device maker improve its performance in the second half of the fiscal year.

The Swiss company, whose products range from entrance systems to safe locks, reported net sales of 2.85 billion Swiss francs ($3.24 billion) for the year ended on June 30, up 8.4% organically and above analysts' average forecast of 2.82 billion in a company-provided poll.

Dormakaba's results mirror wider market trends, after Swedish lock maker Assa Abloy and Dublin-based electric security device maker Allegion also reported higher quarterly revenues aided by solid demand.

This was supported by the easing of global supply chain disruptions that has allowed locking device makers to get raw materials and key electronic components such as chips on time.

For the 2023/24 financial year, Dormakaba expects its profitability to improve from the prior year helped by pricing and cost management. It sees organic sales growth in line with its mid-term target of 3-5%.

Its annual margin on adjusted earnings before interests, taxes, depreciation and amortization (EBITDA) was in line with last year at 13.5%, beating the 13.2% anticipated by analysts.

The company said it would to propose a dividend of 9.50 Swiss francs per share for the year, below the 11.50 francs per share it paid for fiscal 2021/22. ($1 = 0.8783 Swiss francs) (Reporting by Tristan Veyet and Paolo Laudani in Gdansk; Edited by Milla Nissi)