A Viterra grain elevator near Regina.TROY FLEECE/THE CANADIAN PRESS
Grain handler Viterra Inc. reported lower profits, weighed down by one-time costs, but the company raised its semi-annual dividend by 50 per cent.
Revenue for the fourth quarter rose 57 per cent to $3.1-billion, buoyed primarily by higher commodity prices.
Earnings fell to $9-million or 3 cents a share, compared with $53-million or 14 cents in the same quarter a year ago.
Viterra recorded an $8-million goodwill impairment charge for its Western Canadian feed operations. EBITDA for the quarter was $111-million, down from $138-million last year, hit by increased operating costs at its grain handling facilities.
The company also raised its semi-annual dividend by 50 per cent to 15 cents.