FRANKFURT--German healthcare group Fresenius SE will increase the dividend payout for this year by more than 20%, and reach its mid-term profit target two years ahead of schedule, the company said on Thursday.

Fresenius had projected profit of 1.4 billion euros ($1.58 billion) to 1.5 billion euros by 2017, a target that it will meet this year instead, the company said.

Fresenius didn't provide a specific earnings projection for 2015, but reiterated that profit is likely to rise between 18% and 21% in constant currency terms.

Fresenius said that for 2015, "dividend growth is therefore expected to clearly exceed 20%," marking the 23rd year of consecutive dividend increases.

Fresenius will provide a fresh mid-term target in February, it added.

Write to Monica Houston-Waesch at: nikki.houston@wsj.com

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(END) Dow Jones Newswires

August 27, 2015 03:09 ET (07:09 GMT)

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