January 18, 2012 / 11:28 PM / in 6 years

UPDATE 1-Viterra's Q4 profit slides, raises dividend

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Jan 18 (Reuters) - Grain handler Viterra reported lower profits, weighed down by one-time costs, but the company raised its semi-annual dividend by 50 percent.

Revenue for the fourth quarter rose 57 percent to C$3.1 billion ($3.06 billion), buoyed primarily by higher commodity prices.

Net earnings fell to C$9 million ($8.88 million), or 3 Canadian cents a share, compared with C$53 million, or 14 Canadian cents a share, last year.

Viterra recorded a C$8 million goodwill impairment charge for its western Canadian feed operations. EBITDA for the quarter was C$111 million, down from $138 million last year, hit by increased operating costs at its grain handling facilities.

The company also raised its semi-annual dividend by 50 percent to 15 Canadian cents. ($1 = 1.0139 Canadian dollars) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Anil D‘Silva)

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