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Stock impact report

Handelsbanken Hikes Dividend as Fourth-Quarter Profit Beats [BNN Bloomberg (Canada)]

SVENSKA HANDELSBK UNS/ADR (SVNLY) 
NASDAQ:AMEX Investor Relations: danskebank.com/investor-relations
Company Research Source: BNN Bloomberg
The Stockholm-based lender said its net income of 7.24 billion kronor ($690 million) exceeded the estimate of analysts tracked by Bloomberg. Net interest income — a measure of profits from loans and deposits — rose 15% in the fourth quarter from a year ago to 12.22 billion kronor, matching the average estimate. The bank proposed to pay a dividend of 13 kronor per share, more than the 11.34 kronor highest estimate in a survey by Bloomberg. Half of the distribution is an extra payout. It's the first earnings report for the new chief executive, Michael Green, who took over the top position at the bank following Carina Akerstrom's retirement last year. On Tuesday night, he unveiled a sleeker top management to start in April, removing four executives from the team and removing C-suite titles. Read More: Handelsbanken Slims Down Management as New CEO Revamps Bank Nordic banks have seen a mixed development in their net interest income from the third quarter to the fourth, pointing t Show less Read more
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