Aluminium Bahrain (Alba) reported a 74 percent drop in fourth-quarter net income on Wednesday after a one-off gain from a year earlier was not repeated.
Net income for the final three months of 2013 was BD13.7 million ($36.3 million) versus BD52.6 million in the corresponding period of 2012, Alba said in a statement.
Alba's settlement with Alcoa Inc had bolstered its earnings in the fourth quarter of 2012, the Bahraini firm said. It did not specify the value of this settlement.
Alba's board has proposed increasing its total dividend payout for 2013 by 28 percent to BD50.7 million. It did not state how much this was per share.For all the latest industry news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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