Deutsche Annington may pay 0.70 eur/shr dividend – Reuters

German real estate company Deutsche Annington‘s first dividend to shareholders following its 2013 listing could come to about 0.70 euros per share, writes Reuters. The group, which listed in Frankfurt in July but is still majority-owned by British financier Guy Hands’ private equity group Terra Firma, has said it plans to pay out 70 percent of its profits as a dividend.

Reuters – German real estate company Deutsche Annington’s first dividend to shareholders following its 2013 listing could come to about 0.70 euros per share, its Chief Executive Rolf Buch told German daily Handelsblatt.

The group, which listed in Frankfurt in July but is still majority-owned by British financier Guy Hands’ private equity group Terra Firma, has said it plans to pay out 70 percent of its profits as a dividend.

CEO Buch also told Handelsblatt that the company has a war chest of 4 billion euros ($5.5 billion) available for acquisitions, according to an excerpt of an article to be published on Thursday.

“But we will not risk our rating with any acquisition,” he said. Deutsche Annington has a credit rating of BBB with agency Standard & Poor’s.

Deutsche Annington was last month reported to be close to an agreement to buy Vitus Immobilien, a German residential landlord partly owned by Blackstone Group.