January 30, 2019 / 7:00 AM / a year ago

Lundin Petroleum raises dividend, Q4 beats forecast

OSLO, Jan 30 (Reuters) - Swedish oil firm Lundin Petroleum , a partner in Norway’s giant Johan Sverdrup oilfield, reported forecast-beating fourth-quarter core profits on Wednesday and set a higher than expected dividend.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $448.5 million from $429.8 million a year earlier, topping the $440 million expected by analysts in a Reuters poll.

Lundin, 20 percent owned by Norway’s Equinor, said it would pay a 2018 dividend of $500 million, or $1.48 per share, while analysts on average had expected a payment of $1.10 per share. (Reporting by Terje Solsvik, editing by Ole Petter Skonnord)

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