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Norway's DNB Q4 profit misses, dividend beats expectations
February 5, 2015 / 6:49 AM / 3 years ago

Norway's DNB Q4 profit misses, dividend beats expectations

OSLO, Feb 5 (Reuters) - DNB, Norway’s largest bank, reported fourth-quarter pretax earnings before loan losses below forecasts on Thursday but raised its dividend more than expected as it predicted loan losses for the year below normal levels.

DNB’s pretax profit before impairment charges rose to 6.96 billion crowns ($914 million) from 6.75 billion, missing forecasts for 7.33 billion crowns in a Reuters poll of analysts.

The bank raised its dividend to 3.80 crowns per share from the previous year’s 2.70 crowns, beating forecasts for 3.58 crowns. The bank will pay out 30 percent of its 2014 earnings in dividends, up from 25 percent a year earlier. (Reporting by Balazs Koranyi, editing by Terje Solsvik)

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