Norwegian aluminum company Norsk Hydro announced quarterly and year-on-year earnings, largely thanks to rising commodity prices, and said the 2021 dividend would quadruple.
Adjusted EBITDA rose to NOK 9 billion ($ 1 billion) in October-December from 3, 3.4 billion a year earlier, with analysts expecting Rs 9.31 crore.
The company, however, voiced its concerns about supply chain problems, high energy prices and inflationary risks.
“There is growing uncertainty about the outlook,” Hydro said.
The BoD of the company proposed a dividend of 5.4 kroner per share, of which 2 kroner is considered a special dividend, while analysts expected a dividend of 4.54 kroner.
For 2020 the dividend was set at 1.25 crowns.
Revenue for the fourth quarter rose 56% year-on-year to 46.4 billion kroner, compared to an average of 42 billion kronor.
EBITDA for the whole year more than doubled to a record 28 billion kronor in 2021 from 13.1 billion in 2020.
Aluminum prices have risen 18% this year to $ 3,319 per tonne after rising 42% in 2021.
Source: Capital
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