Stella-Jones to hike dividend 25 per cent following double-digit growth in 2015

MONTREAL – Stella-Jones Inc. (TSX:SJ) will be increasing its next quarterly dividend payment by 25 per cent.

The increase to 10 cents per share payable April 29, from eight cents, follows a $33-million net profit in the fourth quarter.

That was up $10 million or 43.5 per cent from $23 million in the same period of 2014.

Earnings per share increased to 48 cents, from 33 cents, and sales rose to $357.5 million from $289.9 million in the fourth quarter of 2014.

Net income for the full year rose to $141.4 million in 2015, up 36.2 per cent from $103.8 million in 2014. Sales rose to $1.56 billion from $1.25 billion.

Stella-Jones produces various types of treated wood products, such as railway ties, utility poles and residential lumber.