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Hannover RE CEO expects dividend payout above 40 pct -paper
December 27, 2012 / 8:51 AM / 5 years ago

Hannover RE CEO expects dividend payout above 40 pct -paper

FRANKFURT, Dec 27 (Reuters) - Hannover RE chief executive Ulrich Wallin expects to hike the company’s dividend payout ratio beyond 40 percent given a good result in 2012, he told Hannoversche Allgemeine Zeitung.

“The next payout could exceed 40 percent of profits, but not significantly,” Wallin told the paper in an interview published on Thursday.

Hannover RE had previously said it aims for a payout ratio of between 35 to 40 percent. It paid 2.10 euros per share as a 2011 dividend, or 42 percent of net profit.

The year 2012 had gone very well, the world’s third-biggest reinsurer reiterated.

In November, Hannover RE predicted net profit of at least 800 million euros ($1 billion) for 2012 and around 800 million euros in 2013. (Reporting By Edward Taylor; Editing by Hans-Juergen Peters)

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