Dollarama increased its quarterly dividend by almost 30% after reporting its fourth quarter profit. The retailer also recorded an increase in sales compared to last year.
The company says it will now pay a quarterly dividend of 9.2 cents per share, up from 7.08 cents per share.
The increased payment to shareholders comes as Dollarama reported earning $323.8 million, or $1.15 per diluted share, for the quarter ended Jan. 28.
The result was up from profit of 261.3 million, or 91 cents per diluted share, a year earlier.
Sales for the 13-week period totaled 1.64 billion, up from 1.47 billion a year earlier.
Same-store sales increased 8.7% while the number of transactions increased 11.2%, but the average transaction amount decreased 2.2%.