Aluminium Bahrain Q4 Net Income Drops 74%

Aluminium Bahrain (Alba) reported a 74 per cent drop in fourth quarter net income on Wednesday after a one-off gain from a year earlier was not repeated.

Net income for the final three months of 2013 was 13.7 million dinars ($36.3 million) versus 52.6 million dinars in the corresponding period of 2012, Alba said in a statement.

Alba’s settlement with Alcoa Inc had bolstered its earnings in the fourth quarter of 2012, the Bahraini firm said. It did not specify the value of this settlement.

Alba’s board has proposed increasing its total dividend payout for 2013 by 28 per cent to 50.7 million dinars. It did not state how much this was per share.