By Marc Navarro Gonzalez 
 

SAP SE (SAP.XE) said Wednesday that its executive and supervisory boards have recommended a 12% increase in the company's dividend for 2017, raising it to 1.40 euro a share ($1.73) from EUR1.25.

The German software company said shareholders will have to approve the increase at its next annual general meeting, which is scheduled for May.

If approved, and if treasury shares remain at the 2017 closing level, the total amount of dividends to be distributed will be around EUR1.67 billion, it said.

SAP also said it has increased its dividend policy to distribute at least 40% of its net profit. The previous dividend policy was to pay out more than 35% of net income.

Write to Marc Navarro Gonzalez at marc.navarro@dowjones.com

(END) Dow Jones Newswires

February 21, 2018 09:20 ET (14:20 GMT)