1st quarter | Canadian Tire raises its dividend

(Toronto) The Canadian Tire Corporation announced Thursday a 25% increase in its quarterly dividend, as it announced a profit and revenue growth for its first quarter, compared to last year.

Posted at 11:12 a.m.

The retailer will now pay a dividend of $1.625 per share, compared to $1.300 per share previously.

Canadian Tire posted net income attributable to shareholders of $182.1 million, or $3.03 per share, which compared to a profit of $151.8 million, or $2.47 per share, in the same period last year.

Revenue for the quarter ended April 2 totaled $3.84 billion, down from $3.32 billion a year earlier.

Sales at Canadian Tire stores that have been open for at least a year climbed 4.5%, while comparable sales at L’Équipeur stores jumped 17.1%. In stores of the SportChek brand, they climbed 10.2%.

On a normalized basis, Canadian Tire’s profit was $3.06 per share, compared to an adjusted profit of $2.57 per share in the first quarter of last year.


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