UPDATE 1-SNC-Lavalin results miss estimates as old projects weigh

Thu Mar 6, 2014 10:56am EST
 
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* Forecasts 2014 EPS of C$2.25 to C$2.50 vs analyst view of C$2.67

* Raises dividend by 4 pct to 24 Canadian cents a share

* 4th-qtr EPS of 61 Canadian cents a share vs year-ago 62 Canadian cts

* 4th-qtr revenue of C$2.12 billion vs C$2.42 billion

* Shares down 4 percent in Toronto (Adds details on fourth-quarter results, 2014 forecast, dividend, stock price)

By Solarina Ho

TORONTO, March 6 (Reuters) - Canada's SNC-Lavalin Group Inc reported marginally lower fourth-quarter earnings on Thursday and forecast earnings for 2014 below expectations, with both the results and the forecast hurt by unprofitable older projects and a softening commodity market.

Shares of the Montreal-based company, which is working to move past a far-reaching corruption scandal that brought down senior executives, fell 4 percent to C$46.45 in Toronto on Thursday morning.

SNC, one of the world's largest construction and engineering companies, also announced a 4 percent dividend increase to 24 Canadian cents a share, payable on April 3, to shareholders of record on March 20.   Continued...