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A Couche-Tard in Montreal. (John Morstad for The Globe and Mail)
A Couche-Tard in Montreal. (John Morstad for The Globe and Mail)

Couche-Tard boosts dividend 20% Add to ...

Convenience store operator Alimentation Couche-Tard Inc. is raising its quarterly dividend by 20 per cent, following a higher profit and higher revenue in its latest quarter.

North America’s second-largest convenience story operator, which reports in U.S. currency, said it had $113.5-million (U.S.) in net earnings in its fiscal second quarter, up $5.3-million or 4.9 per cent from the year-earlier period.

The Montreal-area company, which operates under several banners in Canada and the United States, says it will increase its quarterly dividend by 1.25 cents to 7.5 cents Cdn per share.

Couche-Tard earned 61 cents per diluted share for the period ended Oct. 9, up from 57 cents per share or $108.2-million in the year-earlier period.

Boosted by higher fuel prices at its gasoline filling stations, Couche-Tard’s revenues increased 24 per cent to $5.1-billion, from $4.15-billion a year earlier.

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