February 17, 2011 / 11:15 PM / 7 years ago

UPDATE 1-Superior Plus posts Q4 loss, cuts dividend

* Posts third straight quarterly loss

* Q4 loss/shr C$0.31 vs EPS C$0.18 last year

* Cuts dividend by 26 pct to $0.10/shr a month

* Sees FY11 adj oper cash flow C$1.40-C$1.75/shr

* Revenue up 35 pct at C$1.01 bln

Feb 17 (Reuters) - Diversified business company Superior Plus Corp posted a third consecutive quarterly loss on a weak U.S. housing market, and cut quarterly dividend and its full-year outlook.

The Canadian company, whose services span from energy services to construction, forecast 2011 adjusted operating cash flow per share of C$1.40-C$1.75. This compares with its prior outlook of C$1.75-C$2.

The company expects continued weakness in the U.S. residential and commercial construction activity, and higher oil prices to hurt energy sales, it said in a statement.

Superior Plus cut its dividend by 26 percent to 10 Canadian cents per share a month or C$1.20 per share a year.

The company posted a net loss of C$33.6 million, or 31 Canadian cents a share, compared with net income of C$17.4 million, or 18 Canadian cents a share, a year ago.

Revenue rose 35 percent to C$1.01 billion.

Shares of the Calgary, Alberta-based company closed at C$12.26 on Thursday on the Toronto Stock Exchange.

Reporting by Amruta Sabnis in Bangalore

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