Deutsche Pfandbriefbank AG: Special dividend - outlook for 2017

Deutsche Pfandbriefbank AG  / Key word(s): Dividend/Forecast11.11.2016 18:10Disclosure of an inside information according to Article 17 MAR,transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------Special dividend - outlook for 2017The Management Board and Supervisory Board of Deutsche Pfandbriefbank AG("pbb") are considering a proposal to the Annual General Meeting 2017 -subject to compliance with all legal and regulatory requirements ordevelopments - to distribute for the financial year 2016 a special dividendfrom the Heta gain in addition to the distribution according to itscommunicated dividend policy.From pbb's point of view, this does not imply a fundamental change toits dividend policy, which provides for a dividend proposal in the amountof 40%-50% of consolidated profit after taxes (in accordance with IFRS) andwhich the Management Board will review as soon the impact of a changedregulatory environment can be perceived.pbb anticipates consolidated profit before taxes for 2016 (in accordancewith IFRS) between EUR 280 million and EUR 290 million. Excluding the netnon-recurring effects of EUR 117 million in the third quarter of 2016 (EUR132 million in income from Heta, against which pbb has recognized EUR 15million in provisions and expenses as precautionary measure), pbb expects2016 operating profit before taxes to the tune of EUR 170 million, in linewith original expectations. The Management Board anticipates a higher taxburden for the full year 2016 than in first three quarters, due tovaluation losses on deferred tax assets from losses carried forward, aswell as additional tax payments that are due following a tax audit. Thisshould translate into a notional IFRS Group tax rate of around 35%.The Company is aiming for consolidated profit before taxes (in accordancewith IFRS) between EUR 150 million and EUR 170 million for the year 2017.Contact:Walter Allwicher +49 (0) 89 2880 28 78711.11.2016 The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Archive at www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      Deutsche Pfandbriefbank AG              Freisinger Strasse 5              85716 Unterschleissheim              GermanyPhone:        +49 (0) 89 2880 28 201Fax:          +49 (0) 89 2880 22 28 201E-mail:       info@pfandbriefbank.comInternet:     www.pfandbriefbank.comISIN:         DE0008019001, Die internationalen Wertpapierkennnummern              (ISIN) weiterer von der Deutsche Pfandbriefbank AG              ausgegebener Finanzinstrumente sind abrufbar auf der Website              der Deutsche Pfandbriefbank AG unter              www.pfandbriefbank.com/investor-relations/pflichtver              oeffentlichungen/ad-hoc-mitteilungen/liste-weiterer-finanzin              stumente.html. The International Securities Identification              Numbers (ISINs) of further, financial instruments issued by              Deutsche Pfandbriefbank AG are available on Deutsche              Pfandbriefbank's Investor Relations website under              www.pfandbriefbank.com/en/investor-relations/mandato              ry-publications/ad-hoc-announcements/list-of-further-financi              al-instruments.htmlWKN:          801900Indices:      MDAXListed:       Regulated Market in Frankfurt (Prime Standard), Munich,              Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf,              Hamburg, Hanover; London, Mailand, Paris, Luxemburg, SIX End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------