UPDATE 1-Aluminium maker Norsk Hydro raises dividend on buoyant earnings [Reuters]
Alcoa Corporation (AA)
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Source: Reuters
UPDATE 1-Aluminium maker Norsk Hydro raises dividend on buoyant earnings | Reuters Reuters Staff 2 Min Read (Recasts, adds share, analyst, background) By Joachim Dagenborg and Ole Petter Skonnord OSLO, Feb 16 (Reuters) - Aluminium producer Norsk Hydro proposed a higher-than-expected annual dividend on Friday thanks to stronger aluminium and alumina prices that boosted performance across its most important divisions, sending its shares up. The Norwegian company raised its 2017 dividend to 1.75 Norwegian crowns ($0.2266) per share, above expectations for 1.48 crowns in a Reuters poll of analysts and up from 1.25 crowns for 2016. “I am pleased with the strong, full-year and quarterly results, supported by higher aluminium and alumina prices,” CEO Svein Richard Brandtzaeg said in a statement. Earnings at the firm’s two most important divisions were above forecast. Bauxite and alumina posted an underlying operating result of 1.9 billion crowns, beating expectations for 1.6 billion, while p
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