Akzo Nobel FY16 Adj. Profit Rises; Proposes Dividend Increase - Quick Facts

(RTTNews) - Paints and coatings maker Akzo Nobel NV (AKZOY.PK, AKZOY) reported that its net income attributable to shareholders for fiscal 2016 declined 1 percent to 970 million euros from 979 million euros in the prior year.

However, adjusted earnings per share for the year rose 3 percent to 4.15 euros from 4.02 euros last year.

EBIT increased 3 percent to 1.51 billion euros from 1.46 billion euros last year, and were positively impacted by volume growth, continuous improvement and lower costs.

Revenue for the year declined 4 percent to 14.20 billion euros from 14.86 billion euros last year, due to unfavorable currency and price/mix effects.

The company has proposed total dividend for 2016 up 6.5 percent to 1.65 euros per share, compared to 1.55 euros in the prior year.

CEO Ton Buchner said, "We are now a stronger, more agile company, with excellent brands, a growing global presence and a solid financial and operational foundation. We maintain our financial guidance for 2016-2018."