High Liner Foods Inc. is raising its dividend after the seafood company's first-quarter profit rose by 25.3 per cent on higher sales.
The company had $9.7-million or 63 cents per share of net income during the quarter - up from $7.7-million or 42 cents per share.
High Liner said its first-quarter revenue was up 7.3 per cent from the comparable period of 2010, rising to $177.1-million from $161.5-million.
The company also said its second-quarter dividend will be 10 cents per share, up 11 per cent from the previous payout.
The announcements were issued just before High Liner's annual general meeting of shareholders in Halifax.
High Liner has its head office in Lunenburg, N.S. The company is one of North America's leading producers of frozen seafood.