Canadian Tire profit up
Canadian Tire Corp. Ltd. raised its dividend as the retailer reported its third-quarter profit and sales grew compared with a year ago. The company says it's increasing its quarterly dividend to $1.0375 per…
From the Canada News Group archive. This article dates from Nov 9, 2018 and is preserved as first published.
Canadian Tire Corp. Ltd. raised its dividend as the retailer reported its third-quarter profit and sales grew compared with a year ago.
The company says it’s increasing its quarterly dividend to $1.0375 per share compared with its earlier quarterly payment to shareholders of 90 cents.
0375 per share compared with its earlier quarterly payment to shareholders of 90 cents.
The improvement came as Canadian Tire says it earned $231.3 million or $3.15 per diluted share for the quarter ended Sept. 29, compared with a profit of $198.5 million or $2.59 per diluted share a year ago.
Revenue totalled $3.63 billion, up from nearly $3.27 billion in the same quarter last year.
On a normalized basis, Canadian Tire says it earned an adjusted profit of $3.47 per diluted share for the quarter, up from $2.59 per diluted share a year ago.
Thomson Reuters Eikon says analysts on average had expected a profit of $2.85 per share for the quarter.
