Draegerwerk cuts 2013 dividend more than expected

LUEBECK, Germany, March 12 Wed Mar 12, 2014 5:12am EDT

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LUEBECK, Germany, March 12 (Reuters) - German medical safety technology company Draegerwerk cut its dividend more than expected as a strong euro and higher expenses for research and development weighed on its 2013 profits.

The company said on Wednesday it would lower its 2013 dividend to 0.77 euros per ordinary share from 0.86 euros, while analysts in a Reuters poll had forecast a decline to 0.83 euros. Draegerwerk is also cutting its dividend for owners of preference shares to 0.83 euros from 0.92 euros. (Reporting by Jan C. Schwartz; Writing by Maria Sheahan; Editing by Victoria Bryan)