January 16, 2018 / 12:51 PM / a month ago

Austria's Verbund raises 2017 core profit forecast

VIENNA, Jan 16 (Reuters) - Austria’s largest energy group Verbund raised its 2017 core profit forecast on Tuesday thanks to an improvement in water supply and a better result in its power grid unit.

Verbund said it now expects 2017 earnings before interest, tax, depreciation and amortisation (EBITDA) of 920 million euros ($1.13 billion) after previously forecasting 830 million euros.

The majority state-owned group said it will propose a dividend of 0.40 euros per share for 2017 after 0.29 euros in 2016.​ ($1 = 0.8175 euros) (Reporting by Kirsti Knolle, editing by Louise Heavens)

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