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Deutsche Pfandbriefbank AG: Special dividend - outlook for 2017

Deutsche Pfandbriefbank AG  / Key word(s): Dividend/Forecast

11.11.2016 18:10

Disclosure 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 2017

The 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 or
developments - to distribute for the financial year 2016 a special dividend
from the Heta gain in addition to the distribution according to its
communicated dividend policy.

From pbb's point of view, this does not imply a fundamental change to
its dividend policy, which provides for a dividend proposal in the amount
of 40%-50% of consolidated profit after taxes (in accordance with IFRS) and
which the Management Board will review as soon the impact of a changed
regulatory environment can be perceived.

pbb anticipates consolidated profit before taxes for 2016 (in accordance
with IFRS) between EUR 280 million and EUR 290 million. Excluding the net
non-recurring effects of EUR 117 million in the third quarter of 2016 (EUR
132 million in income from Heta, against which pbb has recognized EUR 15
million in provisions and expenses as precautionary measure), pbb expects
2016 operating profit before taxes to the tune of EUR 170 million, in line
with original expectations. The Management Board anticipates a higher tax
burden for the full year 2016 than in first three quarters, due to
valuation losses on deferred tax assets from losses carried forward, as
well as additional tax payments that are due following a tax audit. This
should translate into a notional IFRS Group tax rate of around 35%.

The Company is aiming for consolidated profit before taxes (in accordance
with IFRS) between EUR 150 million and EUR 170 million for the year 2017.

Walter Allwicher 
+49 (0) 89 2880 28 787

11.11.2016 The DGAP Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Deutsche Pfandbriefbank AG
              Freisinger Strasse 5
              85716 Unterschleissheim
Phone:        +49 (0) 89 2880 28 201
Fax:          +49 (0) 89 2880 22 28 201
ISIN:         DE0008019001, Die internationalen Wertpapierkennnummern
              (ISIN) weiterer von der Deutsche Pfandbriefbank AG
              ausgegebener Finanzinstrumente sind abrufbar auf der Website
              der Deutsche Pfandbriefbank AG unter
              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
WKN:          801900
Indices:      MDAX
Listed:       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