HeidelbergCement has announced that it would increase its dividend payout ratio and consider share buybacks.

The announcement comes as the company remains on the peripheral of the mega-merger between rivals Holcim and Lafarge.

The company also revealed a strong commitment to “disciplined growth in attractive markets”.

HeidelbergCement in intending on raising its dividend payout ratio to 40-45% by the close of 2019.

The company predicts a cumulative cash flow of approximately €8.8 billion between 2015 and 2019. Of the total, the company intends to invest approximately €2.5 billion in organic growth, utilise €1 billion to keep leverage low and more than €2 billion for dividends.

HeidelbergCement is targeting sales above €17 billion by 2019, an increase of at least 35% over 2014 levels.