Mercator to raise dividend to 10 euros by 2015

LJUBLJANA, Nov 15 (Reuters) - Slovenia's largest food retailer Mercator said on Wednesday it plans to raise its dividend gradually over the coming years to reach a dividend of 10 euros ($13.42) per share in 2015. The dividend paid in 2011 will reach 8 euros from 7.2 paid this year and will be increased to 8.8 euros in 2012. The dividend will then be raised by 0.4 euros each year till 2015. The company also said in a statement the size of the dividend will each year have to be confirmed by the management and shareholders. Mercator said on Tuesday group net profit in 2015 was expected to reach 100 million euros from 30 million seen this year. ($1=.7454 Euro) (Reporting by Marja Novak, Editing by Hans Peters) Keywords: MERCATOR DIVIDEND/ (; Reuters Messaging: COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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