UPDATE 1-ElringKlinger cuts dividend, sees 2009 growth


* Ease in commodity prices for first time in years helps * Sees at least 5-7 pct annual profit growth over mid-term * Cuts dividend to 0.15 euros per share from 0.47 FRANKFURT, March 30 (Reuters) - Germany's ElringKlinger will propose slashing its dividend to a third amid narrowing margins although it does expect to be profitable this year, the maker of cylinder head gaskets said on Monday. "ElringKlinger cannot rule out that Group sales recede towards 500 million euros. Even in this ...

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