FRANKFURT, Nov 27 (Reuters) - German real estate group Deutsche Euroshop proposed to shareholders a 4.2 percent hike in its dividend for 2013 to reward them for a successful year, it said on Monday.
The cash payout to investors will increase by 0.05 euros to 1.25 euros ($1.70) per share, according to the company, which invests in shopping centres.
Deutsche Euroshop added that it expected to increase its dividend by 0.05 euros for each year through 2016, so that its payout would amount to 1.40 euros for that final year of the period.
“The aim of this measure is to respond to frequent requests for a long-term, predictable dividend policy,” Chief Executive Claus-Matthias Boege said in a statement.
$1 = 0.7374 euros Reporting by Christiaan Hetzner