November 16, 2018 / 6:31 AM / a month ago

CORRECTED-ABN Amro to increase dividend payout from 50 pct

(Corrects headline to make clear targeted increase in dividend payout is not specified)

AMSTERDAM, Nov 16 (Reuters) - Dutch lender ABN Amro on Friday increased mid-term financial goals to improve its cost/income ratio further, and said its dividend payout ratio would likely rise from the current 50 percent.

In its first update on mid-term financial targets since its 2015 initial public offering (IPO), ABN said its cost/income ratio, a key measure of performance for banks, is on track to reach a 56 percent-58 percent target by 2020 and would fall below 55 percent by 2022.

Dividend payout was raised to 60 pct for the third quarter of this year, which the company said was an indication of a sustained increase. (Reporting by Toby Sterling, Editing by Sherry Jacob-Phillips)

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