November 19, 2017 / 5:01 PM / in a year

Natixis ups dividend payout target in new three-year plan

PARIS, Nov 19 (Reuters) - France’s fourth-biggest listed bank Natixis aims to grow revenue by five percent annually over the next three years and to return more than 60 percent of earnings to investors, it said on Sunday ahead of an investor day.

Natixis, majority-owned by retail banking group BPCE, said it would have up to four billion euros in capital available for distribution of dividends over 2018-2020, one billion of which could be spent on acquisitions.

The bank had a minimum dividend payout ratio of 50 percent in its previous three-year plan. (Reporting by Maya Nikolaeva; Editing by GV De Clercq)

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