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BBVA, Telecom Italia Might Reduce Dividends Next Week

March 23 (Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA and Telecom Italia SpA are among seven companies in the Stoxx Europe 600 Index that might cut their dividends next week, according to data compiled by Bloomberg.

BBVA, Spain’s largest bank, will probably reduce its dividend to shareholders by 19 percent to 12 euro cents, according to Bloomberg Dividend Forecasts that factor in earnings and options prices. Telecom Italia, Italy’s biggest phone company, may lower its interim payout by 25 percent to 43.5 euro cents.

Companies in the Stoxx 600 may raise shareholder payouts by 11 percent in the next 12 months, according to estimates compiled by Bloomberg. Per-share earnings are forecast to grow 34 percent in that period.

Celesio AG, the German drug retailer, may cut its dividend by 16 percent to 42 euro cents, while Neopost SA, a supplier of mailroom equipment, may reduce its payout by 2.2 percent to 2.20 euros.

Banca Monte dei Paschi di Siena SpA, Raiffeisen Bank International AG and Banca Popolare di Milano Scarl may all say that they won’t pay out any dividends.

Salzgitter AG, the German steelmaker, may increase its dividend by 81 percent to 58 euro cents, while Wolseley Plc, the world’s largest supplier of heating and plumbing products, may raise its dividend by 23 percent to 18.5 pence. Vienna Insurance Group AG and Petropavlovsk Plc may also pay higher dividends next week.

The Stoxx 600 has dropped 2.7 percent so far this week as a Chinese manufacturing index indicated a worse contraction this month and euro-area services and manufacturing output shrank more than economists had forecast. The gauge fell 0.2 percent to 265.09 at 3:54 p.m. in London today.

To contact the reporter on this story: Corinne Gretler in Zurich at cgretler1@bloomberg.net

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

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