A man passes by a Couche-Tard convenience store in Montreal, Friday, October 5, 2012.Graham Hughes/The Canadian Press
Alimentation Couche-Tard Inc. increased its quarterly dividend as it reported a higher second-quarter profit.
The convenience store company hiked its quarterly payment to shareholders by 1.25 cents to 6.75 cents per share.
The increase came as it said it earned $415.7-million or 73 cents per diluted share in its latest quarter, up from $286.2-million or 50 cents per diluted share a year ago.
Revenue slipped to $8.44-billion, down from $8.95-billion.
Couche-Tard says the results for the quarter included a gain on the sale of its lubricants business as well as several other non-recurring integration costs and expenses.
Excluding one-time items, the company says it earned $375.0-million or 66 cents per diluted share, up from $313.0-million or 55 cents per share a year ago.
Couche-Tard has convenience stores across North America as well as the Scandinavian and Baltic and Poland.