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Pierre Duhaime, president and CEO of SNC-Lavalin

Paul Chiasson

Montreal-based engineering firm SNC-Lavalin Inc. is hiking dividends to shareholders following a solid increase to its profits last year.

The quarterly dividend rises to 17 cents per share, which is 13 per cent over its previous quarterly payout to shareholders.

SNC's net income for 2009 was $359.4-million, or $2.36 per share, as profit increased and revenue fell compared with 2008.

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Its fourth-quarter profit was $98.7-million or 65 cents per share, up from a profit of $61.3-million or 49 cents per share in the year-earlier quarter.

SNC-Lavalin's revenue was down in both the quarter and year, compared with their year-earlier periods.

The fourth quarter generated $1.58-billion in revenue, down from $1.94-billion, while 2009 annual revenue was $6.1-billion - down by $1-billion from 2008.

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