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1 day ago
Tuesday, January 26, 2010
Metro Raises Dividend
Metro (MRU.a) increased their dividend by 24% on the back of solid Q1 results. Metro's new quarterly dividend is $0.17 per shares. The shares currently yield 1.7%. Metro has increased its dividend for the 15th consecutive year.
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Metro's Q1 Highlights:
- Sales of $2,645 million, up 1.7%
- Net earnings of $98 million ($0.91 per share), up 21.0%
- Dividend per share of $0.17, up 23.6%
...
Giving Back: Track Record of Consistent Dividend Growth
Metro increased its quarterly dividend by 24% from $0.1375 ($0.55 annually) to $0.17 ($0.68 annually), which represents 21% of F09 EPS. The current yield of 1.7% is slightly ahead of the middle of the range among dividend payers in our universe and historical evidence confirms that companies that pay rising dividends consistently outperform those that pay stable or no dividends.
--- Irene Nattel, RBC Dominion Securities
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