Aker Dividend Forecast Reduced by Bloomberg AnalystsTodd White
Aker Solutions ASA, the Norwegian oil-services company controlled by billionaire Kjell Inge Roekke, had its dividend forecast cut by Bloomberg analysts after quarterly earnings slumped.
Aker Solutions is likely to pay out 3 kroner (49 U.S. cents) from 2013 profit, the analysts said today in a note, reducing their outlook from 4 kroner. The dividend will be disbursed in early 2014. The 2013 payout was 4 kroner.
Third-quarter net income dropped 27 percent from a year earlier, while revenue slipped 2.7 percent, Fornebu-based Aker Solutions said last week.
Bloomberg analysts also cut the dividend forecast for Endesa SA after the Spanish power company reported lower profit.
Endesa is likely to pay out 50 euro cents (67 U.S. cents) in 2014, compared with a previous projection of 75 cents, the analysts said. The Madrid-based company scrapped a dividend in 2013 and said last week it hasn’t decided on the next payout.
Endesa, a unit of Italy’s Enel SpA, blamed new government regulations in part for the decline in third-quarter earnings, which fell 15 percent to 437 million euros.