German real estate company Deutsche Annington's first dividend to shareholders following its 2013 listing could come to about 0.70 euros per share, its Chief Executive Rolf Buch told German daily Handelsblatt. The group, which listed in Frankfurt in July but is still majority-owned by British financier Guy Hands' private equity group Terra Firma, has said it plans to pay out 70 percent of its profits as a dividend.CEO Buch also told Handelsblatt that the company has a war chest of 4 billion euros ($5.5 billion) available for acquisitions, according to an excerpt of an article to be published on Thursday."But we will not risk our rating with any acquisition," he said. Deutsche Annington has a credit rating of BBB with agency Standard & Poor's.Deutsche Annington was last month reported to be close to an agreement to purchase Vitus Immobilien, a German residential landlord partly owned by Blackstone Group.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.67% or $0.21/share to $31.50. In the past year, the shares have traded as low as $15.93 and as high as $31.94. On average, 4666220 shares of BX exchange hands on a given day and today's volume is recorded at 3390447.
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