Nokia posts 4th-quarter profit, waives dividend

The beleaguered company, which is trying to cut costs, said that it would not pay a dividend to shareholders for the first time in more than 20 years.

“We are very encouraged that our team's execution against our business strategy has started to translate into financial results,” chief executive Stephen Elop said in a statement.

In the three months ending Dec. 31, Nokia made a net profit of 202 million euros compared to a loss of 1.07 billion euros in the same quarter a year ago, when results were hit by a goodwill impairment charge in its Location and Commerce unit.

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