GERMANY: Metro revival underlined by higher dividend | Progresiv
The Metro Group has said it is increasing its dividend payout as its turnaround programme is beginning to bear fruit. The announcement firmly underlines the group’s return to form under CEO Olaf Koch, after a torrid couple of years that saw its sales and profits drop. 
The retail giant said it will share more of its profits with shareholders every year, encouraged by its lower debt levels and improved results. For the year ending 30 September, it is raising its dividend from 0.90 euro to 1.00 euro, noting that its payout ratio is being raised to 45%-55% of adjusted earnings per share (from 40%-50%). Meanwhile, the dividend for preference shares will fall to 1.06 euro from 1.13 euro, meaning more money will go to ordinary shareholders. (www.kamcity.com)
