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.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community? Create a free account to comment on stories, ask questions, and join meaningful discussions on our new site.
Leave a Reply
You must be logged in to post a comment.