Swedbank Posts Downbeat Q4 Profit, Raises Dividend

Swedbank AB SWDBY reported a 5% gain in its fourth-quarter net profit and lifted its dividend. Swedbank's quarterly net profit surged to 3.79 billion Swedish kronor ($457.9 million), versus a year-ago profit of 3.61 billion kronor. Analysts were estimating a profit of 4.18 billion kronor. The bank's net interest income gained to 5.81 billion kronor versus 5.63 billion kronor. Swedbank's board proposed a dividend of 11.35 a share, up from 10.10 kronor a share in the previous year. Swedbank shares gained 0.37% to close at $24.33 yesterday.