Cana­dian Tire re­ports higher sales, rev­enue

Toronto Star - - BUSINESS -

Cana­dian Tire Corp. raised its quar­terly div­i­dend by 38 per cent as it re­ported that its third-quar­ter profit edged higher.

The re­tailer says it will be­gin pay­ing a quar­terly div­i­dend of 90 cents per share next year, up from 65 cents per share.

The com­pany made the move as it re­ported a profit at­trib­ut­able to share­hold­ers of $176.6 mil­lion, or $2.59 per di­luted share, in its lat­est quar­ter. That com­pared with a profit at­trib­ut­able to share­hold­ers of $176.4 mil­lion, or $2.44 per di­luted share, a year ago when it had more shares out­stand­ing.

Rev­enue in­creased to $3.3 bil­lion, up from $3.13 bil­lion a year ago.

In ad­di­tion to its name­sake stores, Cana­dian Tire also owns Mark’s and FGL Sports, which op­er­ates Sport Chek, At­mos­phere, Hockey Ex­perts Sports Ex­perts, among other stores.

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