MONTREAL -- Dollarama Inc. is raising its dividend 27 per cent after a big increase in both fourth-quarter and full-year earnings in fiscal 2013.
The Montreal-based discount chain's net earnings rose to $77.1 million or $1.04 per diluted share from $63.6 million or 84 cents per share in the prior-year period.
It had $561.9 million in sales in the fourth quarter ended Feb. 2, partly helped by an extra 14 week as well as additional stores.
The increased quarterly dividend, up three cents from 11 to 14 cents per share, is payable May 7 to shareholders of record April 30.
Based on Thursday's closing price of $64.64 per share, that would produce an annual yield of just under 0.9 per cent.
On a full-year basis, the company reported net earnings of just under $221 million or $2.94 per diluted share on sales of $1.86 billion in fiscal 2013, which had 53 weeks.
That compared with fiscal 2012, a 52-week year, when net earnings were $173.5 million or $2.30 per diluted share on sales of $1.6 billion.
