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BRIEF-Norbord board declares qtrly dividend of CAD $0.10 per share

Published 2017-02-03, 06:15 a/m
Updated 2017-02-03, 06:20 a/m
© Reuters. BRIEF-Norbord board declares qtrly dividend of CAD $0.10 per share

Feb 3 (Reuters) - Norbord Inc OSB.TO :

* Norbord reports 2016 results; declares quarterly dividend

* Recorded adjusted earnings of $55 million or $0.64 per share (basic and diluted) in Q4 of 2016

* Norbord Inc says in North America, us housing starts were approximately 1.17 million in 2016, up 5% from 1.11 million in 2015

* Q4 earnings per share view $0.51 -- Thomson Reuters I/B/E/S

* Norbord Inc says us housing economists are forecasting 2017 starts of approximately 1.25 million, a further 7% year-over-year improvement

* Norbord Inc says in Europe, Norbord's core panel markets remained strong, with double-digit OSB demand growth in both UK and Germany

* Norbord Inc says reported European panel prices in us dollar terms were impacted by significant devaluation of pound sterling following "brexit" referendum in June

* In quarter, "us housing starts continued their steady recovery, driving increased North American OSB demand and prices"

* Norbord Inc says in addition, company expects to invest most of remaining $102 million budgeted to complete inverness project

* Norbord Inc says board of directors declared a quarterly dividend of cad $0.10 per common share Source text for Eikon: ID:nCNW6xhHwa Further company coverage: OSB.TO

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