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WestJet to raise dividend, reports higher Q4 profit, revenue

CALGARY – WestJet Airlines Ltd. (TSX:WJA) will raise its quarterly dividend by 20 per cent, starting with next month’s payment to shareholders.

The Calgary-based airline will pay a dividend of 12 cents per share on March 31, an increase of two cents per share.

WestJet also reported $67.8 million of net income in the fourth quarter, or 52 cents per diluted share, and $926.4 million of revenue.

The revenue was slightly below estimates of $931 million but WestJet’s earnings met expectations of 52 cents per share.

A year earlier, WestJet had $60.9 million or 46 cents per diluted share of earnings and $860.6 million of revenue.

Since then, it has been expanding its reach through partnerships with other airlines and the launch of the WestJet Encore regional service.

WestJet’s announcement said it expects continued strong traffic and revenue growth in the first quarter, but didn’t release estimates.

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