Europe / Middle East / Africa
Holcim dividend cut after Q4 loss
Mar, 01 2012
(Zurich, Switzerland) -- Holcim, the world's second-largest cement maker, slashed its dividend by a third after it posted a net loss in the fourth quarter due to slumping demand for construction materials and restructuring at a South African business.
The Swiss cement maker reported a fourth-quarter net loss of 438 million Swiss francs (US$488mil), largely due to an already announced 775 million Swiss franc charge. Analysts polled by Reuters had expected a net loss of 521 million francs.
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