Bloomberg News

Prudential, Legal & General May Increase Their Dividends

March 09, 2012

Prudential (PRU) Plc, Legal & General (LGEN) Group Plc, Tullow Oil (TLW) Plc and Pirelli (PC) & Co. are among eight companies in the Stoxx Europe 600 Index that may increase their dividends next week, according to data compiled by Bloomberg.

Prudential and Legal & General may boost their payouts by 1.2 percent to 17.45 pence and 25 percent to 4.28 pence, respectively, according to Bloomberg Dividend Forecasts that factor in earnings and options prices. Pirelli, the Italian tiremaker, might lift its dividend to shareholders by 51 percent to 25 euro cents. Tullow Oil, the London-based African oil explorer, will raise its dividend by 50 percent to 6 pence.

EON AG (EOAN), Germany’s biggest utility, might cut its dividend by 33 percent to 1 euro as Germany phases out its nuclear power plants. RWE AG (RWE), the country’s second-largest electricity company, reduced its dividend on March 6 by 42 percent.

Intesa Sanpaolo SpA (ISP) Sanpaolo, Italy’s second-biggest lender, and Hannover Re (HNR1), the third-largest reinsurer, may lower their payouts to shareholders next week, by 20 percent to 6 euro cents and 8.7 percent to 2.10 euros, respectively.

Companies in the Stoxx 600 (SXXP) will increase payouts to shareholders by 8.7 percent in 2012, according to estimates compiled by Bloomberg. Per-share earnings will grow 23 percent in the period, according to the data.

G4S Plc (GFS), the world’s largest security firm, Antofagasta Plc (ANTO), the copper producer controlled by Chile’s richest family, and K+S AG (SDF), the German chemicals maker, may also increase dividends next week.

The Stoxx 600 (SXXP) added 0.8 percent to 266.13 at 4:13 p.m. in London after a U.S. Labor Department release showed that the world’s largest economy added more jobs last month than economists had predicted. The gauge has declined 0.4 percent this week as a report confirmed that the euro area’s economy contracted in the final quarter of 2011.

To contact the reporter on this story: Peter Levring in Copenhagen at plevring1@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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