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.
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