Loading articles...

BRP raises quarterly dividend, reports Q4 profit down from year ago

Last Updated Mar 21, 2018 at 6:00 am PDT

A BRP logo is shown at the research and innovation plant in Valcourt, Que., Friday, November 9, 2012. BRP Inc. raised its dividend as it reported a drop in profit for its latest quarter compared with a year ago as revenue also declined. THE CANADIAN PRESS/Graham Hughes.

MONTREAL – BRP Inc. raised its dividend as it reported a drop in profit for its latest quarter compared with a year ago as revenue also declined.

The maker of Ski-Doo snowmobiles says it will pay a quarterly dividend of nine cents per share, up a penny from its previous quarterly payment to shareholders.

The increase came as BRP reported a profit attributable to shareholders of $115.2 million or $1.12 per diluted share for the quarter ended Jan. 31.

That compared with a profit of $136.6 million attributable to shareholders or $1.22 per diluted share a year earlier.

On a normalized basis, BRP said it earned 96 cents per diluted share compared with $1 per share a year ago.

Revenue in what was the company’s fourth quarter totalled $1.26 billion, down from nearly $1.31 billion.

Companies in this story: (TSX:DOO)