Linamar increases quarterly dividend
Posted Mar 9, 2011 04:47:34 PM.
This article is more than 5 years old.
Guelph’s Linamar Corp. has increased its quarterly dividend with fourth quarter results beating analysts expectations.
Linamar is raising its dividend to eight cents per share, up from six cents.
The auto parts maker says it earned $19.2 million in its latest quarter, up from $14.6 million a year ago. It says sales increased 31 per cent to $593.7 million from $451.9 million in the fourth quarter of 2009, as the auto market continued to show signs of recovery.
Excluding one time items, the company said it earned $20.2 million or 31 cents per share for the quarter compared with $10.7 million or 17 cents per share a year ago.
Analysts on average had expected earnings of 26 cents per share on $559 million in revenue, according to Thomson Reuters.
