Feb 5 (Reuters) - Finnish biofuel producer and oil refiner
Neste reported a smaller than expected decline in
fourth-quarter profit on Friday despite low oil prices, citing
resilience of its renewables business.
Neste, which has invested heavily in renewables, said its
October-December comparable operating profit fell to 380 million
euros ($455 million), beating the 365.3 million expected on
average by analysts, Refinitiv Eikon data showed.
Neste's board proposed to cut the dividend to 0.80 euros per
share for 2020, compared with 1.02 euros for 2019 and a
consensus analysts forecast of 0.96 euros.
($1 = 0.8358 euros)
(Reporting by Tarmo Virki in Tallinn
Editing by David Goodman