By Monica Houston-Waesch
FRANKFURT--German insurer Allianz SE on Thursday raised its
dividend for the full year, though net profit fell in the fourth
quarter.
The insurer reported fourth-quarter net profit of EUR1.22
billion ($1.39 billion) compared with EUR1.26 billion in the
year-earlier quarter.
Operating profit rose to EUR2.26 billion, bringing the full-year
figure to EUR10.4 billion, the upper end of the company's target
range, and higher than EUR10.1 billion in 2013. The company
reported fourth-quarter revenue of EUR30.1 billion, up 12% from the
EUR26.8 billion a year earlier.
The insurer is targeting an operating profit of EUR10.0 billion
to EUR10.8 billion for 2015, it said.
Allianz said Thursday it would propose a dividend of EUR6.85 per
share for 2014, up from EUR5.30 for 2013. In late 2014, Allianz
said it would funnel about 50% of net profit into its dividend
payout, compared with 40% previously.
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