Metro Shares Jump as Retailer Surprises With Dividend Hike
- German retailer vows to pay more of earnings to shareholders
- Saturn and Cash & Carry owner cites improved results
This article is for subscribers only.
Metro AG shares rose to the highest in more than three months after the German retailer proposed a surprise dividend increase and vowed to pay more of earnings to shareholders, citing better operating performance and a stronger balance sheet.
The stock gained as much as 6 percent to 30.71 euros in Frankfurt trading. It had already risen 15 percent this year through yesterday as the Dusseldorf-based retailer sells struggling operations and improves its stores and Web sites.