Allianz SE's (AZ) first-quarter dividend accrual of EUR200 million shouldn't be taken as a signal for the full-year dividend, Chief Financial Officer Helmut Perlet told analysts in a conference call Wednesday.

The EUR200 million dividend accrual is roughly equivalent to 40% of the quarterly net profit booked in continuing operations, of EUR424 million, Perlet said.

Allianz calculates its dividend payout ratio as a percentage of net profit in continuing operations.

Perlet also said the quarterly dividend accrual wasn't preempting any decision by the company's supervisory board on the planned 2009 dividend payment.

Allianz has said in the past it was generally targeting a dividend payout ratio of between 30% and 40% of net profit. Given the market uncertainty, it has refrained from giving specific earnings targets for 2009 and hasn't commented about dividend payment targets for 2009.

For 2008, Allianz paid a dividend of EUR3.50 a share, or a total of EUR1.60 billion, although it booked a net loss of EUR2.44 billion.

The 2008 dividend payout ratio was around 40% of the 2008 net profit in continuing operations, which was EUR3.97 billion.

Company Web site: www.allianz.com

-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com