Builder Skanska unexpectedly proposes lower dividend, shares fall
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STOCKHOLM (Reuters) - Swedish builder Skanska surprised investors with a proposal to cut its dividend on Friday, sending its shares lower despite a jump in fourth quarter operating profit.The dividend cut will help fund further expansion of the company's residential and commercial property development operations, which have grown at a rapid rate in recent years to account for more than three quarters of profit, it said. Property development involves a greater risk for the builder, but offers..