Metro lowers dividend after profit drop

FRANKFURT, March 1 Fri Mar 1, 2013 3:23am EST

FRANKFURT, March 1 (Reuters) - German retailer Metro cut its dividend and reported a fall in earnings as economic woes in Europe resulted in shoppers spending less at its stores.

Metro said it proposed a dividend of 1 euro per ordinary share for 2012, compared with 1.35 euros ($1.76) for 2011.

Earnings before interest, taxes and special items came in at 1.98 billion euros, compared with 2.37 billion in 2011, it said in a statement released ahead of full annual results. ($1 = 0.7649 euros) (Reporting by Victoria Bryan)

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