Swedbank Posts Downbeat Q4 Net Profit, Raises Dividend

Swedbank AB

reported a decline in its fourth-quarter net profit, but proposed a rise in dividend for 2011. Swedbank's quarterly net profit dropped to SEK965 million, from SEK2.75 billion in the year-ago period. However, analysts were expecting a net profit of SEK1.17 billion. Its net interest income climbed to SEK4.99 billion from SEK4.53 billion, versus analysts' estimates of SEK4.86 billion. Swedbank proposed a 2011 dividend of SEK5.30 per share for both common shares and preference shares, up from SEK2.10 per common share and SEK4.80 per preference share in the year-ago period.