RTTNews | Jan 29, 2021 01:33AM EST

01:32 Friday, January 29, 2021 (RTTNews.com) - Ericsson (ERIC) reported that its fourth-quarter net income attributable to owners of the parent company improved to 7.52 billion Swedish kronor or 2.26 kronor per share from last year's 4.43 billion kronor or 1.33 kronor per share, driven by the stronger operating income.

Reported operating income improved to 11.0 billion kronor from 6.1 billion kronor in the previous year. Operating income, excluding restructuring charges, was 11.0 billion kronor up from 6.5 billion kronor in the prior year. The improvement was mainly driven by improved gross margin as well as lower SG&A expenses.

Quarterly sales grew 5% to 69.6 billion kronor from 66.4 billion kronor in the prior year. Sales adjusted for comparable units and currency grew by 13% year-over-year mainly driven by sales in North East Asia, Europe and North America.

The Board of Directors proposes to the Annual General Meeting a dividend to the shareholders of 2.00 kronor per share for the financial year 2020, compared to 1.50 kronor per share paid last year. The dividend is proposed to be paid in two installments, 1.00 kronor per share with the record date April 1, 2021, and 1.00 kronor per share with the record date October 1, 2021.

The Annual General Meeting of shareholders will be held on March 30, 2021.

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