UPDATE: Mattel Posts Downbeat Q4 Profit, Lifts Dividend

Mattel

reported a drop in its fourth-quarter profit. Mattel's quarterly profit declined to $306.5 million, or $0.87 per share, from $370.6 milllion, or $1.07 per share, in the year-ago period. Excluding one-time items, its adjusted net income came in at $1.12 per share. However, analysts were expecting a profit of $1.15 per share. Its net sales climbed 5% to $2.26 billion. Mattel's board declared a Q1 cash dividend of $0.36 per share, versus $0.31 per share. Mattel shares closed at $37.63 yesterday.