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SNC Lavalin hikes dividend after annual profit rise to $359.4M

Published on March 5th, 2010; Published on March 5th, 2010
Canadian Press

Montreal-based engineering firm SNC-Lavalin Inc. (TSX:SNC) is hiking dividends to shareholders following a solid increase to its profits last year.

Topics :: SNC Lavalin

The quarterly dividend rises to 17 cents per share, which is 13 per cent over its previous quarterly payout to shareholders.

SNC's net income for 2009 was $359.4 million, or $2.36 per share, as profit increased and revenue fell compared with 2008.

Its fourth-quarter profit was $98.7 million or 65 cents per share, up from a profit of $61.3 million or 49 cents per share in the year-earlier quarter.

SNC-Lavalin's revenue was down in both the quarter and year, compared with their year-earlier periods.

The fourth quarter generated $1.58 billion in revenue, down from $1.94 billion, while 2009 annual revenue was $6.1 billion _ down by $1 billion from 2008.

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