Skip to main content

A Viterra grain elevator near Regina.

TROY FLEECE/THE CANADIAN PRESS/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.

Story continues below advertisement

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.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.