Software maker SAP proposes dividend of 1.00 eur/shr

FRANKFURT, March 20 Thu Mar 20, 2014 2:15pm EDT

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FRANKFURT, March 20 (Reuters) - German business software maker SAP on Thursday proposed an annual dividend of 1.00 euro per share, up 18 percent from a year earlier, and more than expected by analysts.

Analysts had on average predicted a 0.93 euro payout per share.

SAP in January reported slowing fourth-quarter software revenue growth, citing currency effects and its shift to Internet-based services as it looks to compete with newer, nimbler rivals.

The company also said on Thursday it would ask shareholders to approve changing the company's legal form from a German AG into a European Company, known as Societas Europaea or SE. (Reporting by Ludwig Burger; Editing by Mark Potter)