* Plans "active" dividend policy for 2013 and thereafter
* Sees chance 2013 operating profit may reach 2011 record
* Share up 0.6 pct vs German midcaps down 0.1 pct
(Adds CEO quotes, analysts' forecasts)
MUNICH, Oct 8 German mortgage bank Aareal
is confident of paying a dividend for this year for
the first time since the financial crisis, helped by strong
operating profit that may even match a record set in 2011, it
said on Tuesday.
"We plan to return to an active dividend policy for 2013 and
the following years," Chief Executive Wolf Schumacher told
Reuters at the Expo Real property conference.
The company's last dividend was the 0.50 euros per share it
paid for 2007, before the sub-prime crisis engulfed the
Schumacher, who had already raised the prospect of resuming
dividend payments earlier this year, said developments over the
first nine months increased his confidence of achieving that
"We are fully on track," he said.
"The chances remain good that we will achieve group earnings
on the order of those in 2012 and it may even be possible to
match the record result of 2011," he said.
Aareal, a specialist property lender, posted record
operating profit of 185 million euros in 2011 and slipped back
to 176 million euros last year.
Analysts on average expect the lender to post operating
profit of 192 million euros this year and pay a dividend of 0.44
euros per share for 2013, data from Thomson Reuters I/B/E/S
New business is seen at around 7-8 billion euros this year,
after 6 billion last year, with demand strong, Schumacher said.
Aareal Bank received 525 million euros in a form of
debt-equity hybrid called a "silent participation" from the
state at the height of the crisis, of which 300 million euros
have yet to be repaid.
Schumacher aims to repay the remaining silent participations
once he can replace them with hybrid capital instruments, but
the regulatory environment for the moment is too uncertain.
($1 = 0.7368 euros)
(Reporting by Kathrin Jones; Writing by Jonathan Gould; Editing
by Peter Dinkloh and Jane Merriman)