Sandvik Posts Lower Q4 Profit, Lifts Dividend

Sandvik AB SDVKY reported a drop in its fourth-quarter net profit and lifted its dividend. Sandvik's quarterly net profit fell to SEK728 million ($113.3 million), from SEK731 million, in the year-ago period. Its revenue dropped to SEK24.33 billion from SEK25.10 billion, versus analysts' estimates of SEK23.73 billion. Its Ebit surged to SEK2.13 billion, from SEK1.65 billion. The company's board proposed a dividend of SEK3.50 per share, versus SEK3.25 per share, in the year-earlier period. Sandvik shares closed at $16.53 yesterday.