(RTTNews) - Sandvik AB (SDVKF, SDVKY, SAND.ST), a Swedish engineering group, on Tuesday reported net income declined despite higher revenue in the fourth quarter compared with the previous year and proposed a higher dividend for 2025. For the fourth quarter, profit attributable to owners of the parent company decreased 2 percent to SEK 4.20 billion from SEK 4.30 billion in the prior year. Earnings...
(RTTNews) - Sandvik AB (SDVKF, SDVKY, SAND.ST), a Swedish engineering group, on Tuesday reported net income declined despite higher revenue in the fourth quarter compared with the previous year and proposed a higher dividend for 2025. For the fourth quarter, profit attributable to owners of the parent company decreased 2 percent to SEK 4.20 billion from SEK 4.30 billion in the prior year. Earnings per share SEK 3.35 versus SEK 3.42 last year. Adjusted earnings per share were SEK 3.38 versus SEK 3.25 last year. On average, six analysts had expected the company to report SEK 3.43 per share. Analysts' estimates typically exclude special items. Adjusted EBITDA rose 1 percent to SEK 6.37 billion from SEK 6.29 billion in the previous year. Operating profit increased to SEK 5.89 billion from SEK 5.75 billion in the prior year. Revenue increased to SEK 32.46 billion from SEK 32.15 billion in the previous year. Further, the board has proposed a dividend of SEK 6 per share for 2025, up from SEK 5.75 a year earlier. The proposed dividend corresponds to a total payout of SEK 7.53 billion, compared with SEK 7.21 billion in the previous year. The proposed record date for the dividend is April 30. The dividend is expected to be paid on May 6. On Monday, Sandvik closed trading 1.77% higher at SEK 339 on the Stockholm Stock Exchange. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
South Africa’s government will offer companies new incentives in an initiative to capitalize a fund that will be used to promote Black economic empowerment, Business Day reported, citing a Ministry of Trade, Industry and Competition document. Under the proposal, companies that contribute 3% of their net income to a so-called Transformation Fund will earn double the points currently available for a...
South Africa’s government will offer companies new incentives in an initiative to capitalize a fund that will be used to promote Black economic empowerment, Business Day reported, citing a Ministry of Trade, Industry and Competition document. Under the proposal, companies that contribute 3% of their net income to a so-called Transformation Fund will earn double the points currently available for a scorecard that measures businesses’ support for greater economic inclusion, the Johannesburg-based newspaper said. The increased number of points will improve companies’ access to government and corporate procurement. The fund will be governed by a board appointed by the minister and supported by a public-private investment committee, the paper said. The revamped proposals are expected to be unveiled next week, it said. S. Africa Mulls Transformation Levy on Unlisted Firms, BD Says No. 2 South African Party Slams $5.4 Billion Black-Fund Plan South Africa President Confirms 100b-Rand Transformation Fund