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MONTREAL — SNC-Lavalin Group Inc. slashed its dividend by 65 per cent Friday as it reported a fourth-quarter loss of $1.6 billion.

The troubled engineering and construction giant said it will now pay a quarterly dividend of 10 cents per share compared with its earlier payment of 28.7 cents per share.

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SNC-Lavalin has been at the centre of a political scandal in Ottawa over the company’s desire to negotiate a deferred prosecution agreement in connection with fraud and bribery charges linked to business dealings between it and Moammar Gadhafi’s regime in Libya between 2001 and 2011.

The company also issued two profit warnings earlier this year related to problems at a mining project in Chile and its oil and gas business in Saudi Arabia.