Onex hikes quarterly dividend despite quarterly loss

Onex Corp. reported a loss in its latest quarter, a day after it raised its quarterly dividend by 17 per cent.

The private equity firm, which keeps its books in U.S. dollars, reported a loss attributable to shareholders of US$158-million or $1.56 per share.

That compared with a loss attributable to shareholders of $911-million or $8.88 per share in the same quarter last year.

Revenue totalled $6.02-billion, up from $5.69-billion in the first three months of 2017.

The company noted that its results do not follow any specific trends due to acquisitions and dispositions of businesses, changes in the value of its publicly traded and privately held operating companies and varying business cycles.

Onex said Thursday it would now pay a quarterly dividend of 8.75 cents per share, up from its earlier rate of 7.5 cents per share.