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ProCredit Holding lowers dividend as FY'17 profit drops YOY

Germany-based ProCredit Holding AG & Co. KGaA lowered its proposed divided for 2017 to 27 cents per share from 38 cents per share a year prior, as its full-year 2017 profit attributable to shareholders dropped to €46.3 million from €59.4 million in 2016.

EPS for the year declined to 86 euro cents from €1.16 a year earlier. Return on equity also fell year over year to 7.1% from 9.6%.

The bank said it anticipates a return on average equity for 2018 of between 7.5% and 8.5% and a medium-term RoAE of about 10%.