CoucheTard hikes dividend by 20 as fullyear earnings surge on acquisitions

LAVAL, Que. — Alimentation Couche-Tard boosted its quarterly dividend 20% after reporting Monday that its adjusted profit increased 10% during the fourth quarter and full-year earnings surged due largely to acquisitions.The Quebec-based convenience store operator says it will pay four cents per share on July 30 to shareholders of record as of July 16.The company, which reports in U.S. dollars, earned $145.1 million or 25 cents per diluted share during its fourth quarter, down from $146.4 million or 26 cents per dilute share a year ago.Adjusting for one-time items, Couche-Tard earned 22 cents per diluted share, up from 20 cents a year ago, but three cents below analysts’ expectations.Revenues for Couche-Tard (TSX:ATD.B) totalled $8.95 billion for the period ended April 27, up from $8.78 billion a year earlier.For the full-year, Couche-Tard earned $812.2 million or $1.43 per share, compared with $572.8 million or $1.02 per share in the prior year, marking the sixth consecutive year of significant growth due largely to acquisitions. Its adjusted profit was $1.35 per share, compared with $1.11 per share in fiscal 2013.Revenues for the full year increased 6.8% to $38 billion, from $35.5 billion.

0 thoughts on “CoucheTard hikes dividend by 20 as fullyear earnings surge on acquisitions”

Leave a Reply

Your email address will not be published. Required fields are marked *