OSLO (dpa-AFX) - Norwegian energy and aluminum company Norsk Hydro (NHY, NHYDY.PK, NHYDY.PK) reported that its second quarter net income attributable to shareholders climbed to 11.28 billion Norwegian Kroner or 5.49 Kroner per share from 2.59 billion Kroner or 1.26 Kroner per share in the previous year.
The latest-quarter result included a net foreign exchange loss of 1.129 billion Kroner, a 988 million Kroner unrealized loss on power and raw material contracts and a 6.697 billion Kroner unrealized gain on LME related contracts.
'... The results are backed by strong markets, continued high demand for our greener aluminium products and our ambitious 2025 improvement program, which remains on track,' said President and CEO, Hilde Merete Aasheim.
Total revenue and income for the second quarter grew to 66.07 billion Kroner from 35.34 billion Kroner in the prior year.
The company said its board has proposed an additional shareholder distribution. This consists of an additional cash dividend of 3 billion Kroner and an introduction of a share buyback program of up to 2 billion Kroner.
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