TORONTO — Canadian Tire Corp. Ltd. raised its dividend by 25 per cent because it reported its first-quarter revenue and income rose in contrast with a 12 months in the past.
The retailer mentioned it would now pay a quarterly dividend of $1.625 per share, up from $1.30 per share.
Canadian Tire reported web earnings attributable to shareholders of $182.1 million or $3.03 per diluted share, up from $151.8 million or $2.47 per diluted share a 12 months earlier.
Revenue for the quarter ended April 2 totalled $3.84 billion, up from $3.32 billion in the identical quarter final 12 months.
Comparable gross sales at its Canadian Tire retail enterprise grew 4.5 per cent, whereas its Mark’s banner noticed comparable gross sales acquire 17.1 per cent. Comparable gross sales at its SportChek shops gained 10.2 per cent.
On a normalized foundation, Canadian Tire mentioned it earned $3.06 per diluted share, up from a normalized revenue of $2.57 per diluted share a 12 months in the past.
This report by The Canadian Press was first revealed May 12, 2022.
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The Canadian Press