PX P10 Inc

   By Pietro Lombardi 
 

Linde AG (LINU.XE) said Monday that its executive board plans to propose a dividend of 7 euros ($8.7) a share for 2017 and part of 2018.

The amount includes a 2017 dividend of EUR3.90 a share, and the remaining is for part of 2018.

The decision is consistent with the merger agreement the company reached with Praxair Inc. (PX) in June and stems from the different timing of the dividend payments between Linde and Praxair.

According to the agreement, Linde may, in 2018, "pay a dividend which economically covers the financial year 2017 and, on a pro rata basis, every quarter for which Praxair is expected to pay a dividend to its shareholders in 2018" before the merger is completed, Linde said.

In June, the two companies said their boards had approved a merger, which is still subject to regulatory approval.

The dividend proposal is subject to the approval of Linde's supervisory board.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

February 19, 2018 08:58 ET (13:58 GMT)

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