** Shares in Finnish utility Fortum FORTUM.HE dip around 7% at 1045 GMT, extending losses from early trade, as it posted a Q4 print with earnings below expectations

** Its comparable operating profit of EUR 251 million ($296.05 million), down year-on-year due to lower generation volumes, missed the EUR 281 million average estimate from analysts polled by Vara Research

** Fortum also proposed a dividend of EUR 0.74 per share, below the year-ago dividend

** J.P.Morgan notes the dividend came in below expectations, plus some investors had recently raised expectations of a special dividend which was not announced today

** If losses hold, Fortum shares would see their worst day since April 2025

** The stock sits at the bottom of the Helsinki blue chip .OMXH25 index

($1 = 0.8478 euros)