Norway's BW Offshore cuts dividend in Q4, says outlook weaker
OSLO Feb 16 (Reuters) - Norwegian floating oil production firm BW Offshore posted fourth-quarter earnings in line with expectations on Monday, but reduced its dividend payment and said the outlook is more uncertain due to the plunge in oil prices.
"In general prospects are being delayed due to the drop in oil price," BW said in a statement.
The firm posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $104 million in the quarter, broadly in line with a mean forecast for $103 million seen in a Reuters poll..
It proposed a dividend of $0.02 per share, one cent less than in recent quarters and below expectations for $0.03 per share in the Reuters poll.
On Feb 11, an explosion on one of the company's oil production vessels offshore Brazil killed five employees, while four are missing. The Cidade de Sao Mateus ship was on contract to state oil firm Petrobras.
BW Offshore said it was still searching for the missing crew members. (Reporting by Stine Jacobsen, editing by Terje Solsvik)
© Thomson Reuters 2016 All rights reserved.