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OSLO, Dec 15 (Reuters)Norwegian aluminium-maker Norsk Hydro NHY.OL will cut more costs and raise its capital expenditure next year, while distributing a smaller portion of its earnings as dividend, it said on Thursday.

(Reporting by Victoria Klesty and Gwladys Fouche, editing by Terje Solsvik)

((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters Messaging: victoria.klesty.thomsonreuters.com@reuters.net))

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