Noranda Aluminum Holding Co posted fourth-quarter results below analysts' estimates, hurt by lower realized prices for aluminium, but the company raised its quarterly dividend by a cent.
Noranda, which started paying dividend last November, raised its quarterly dividend to 4 cents per share.
The dividend will be paid on March 21 to shareholders on record as of Feb. 27.
Tennessee-based Noranda reported a quarterly net income of $24.4 million, or 36 cents per share, compared with $34.9 million, or 59 cents per share.
Excluding items, the profit was 1 cent per share.
Revenue fell 15 percent to $338.5 million.
Analysts, on average, were expecting the company to earn 5 cents a share, on revenue of $350.1 million, according to Thomson Reuters I/B/E/S.
Noranda operates a mine in Jamaica to produce bauxite that is refined into alumina at its Gramercy, Louisiana facility. The alumina is then smelted into aluminum at Noranda's smelter near New Madrid, Missouri.
Noranda shares closed at $10.85 on Tuesday on the New York Stock Exchange.
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