Connect to share and comment

Lassonde Industries boosts dividend Q1 profits rise 3% to almost $5.9M

PlacardEnlarge
(Globalpost/GlobalPost)

ROUGEMONT, Que. - Lassonde Industries Inc. (TSX:LAS.A) has posted a three per cent increase in first-quarter profit and says it will boost its quarterly dividend by eight cents to 39 cents per share.

The Quebec-based maker of fruit and vegetable juice drinks says net income attributable to shareholders was $5.85 million or 84 cents per share. That was up from $5.68 million, or 81 cents in the same 2012 period.

Revenue rose to $240.6 million from $233.4 million, primarily driven by higher private label sales and higher sales volumes for national brands.

In early afternoon trading on the Toronto Stock Exchange, Lassonde share were up $1 at $90, a level at which the new dividend would produce an annual yield of about 1.7 per cent.

Lassonde makes and sells fruit and vegetable juices and drinks under several brands including Everfresh, Fairlee, Flavur, Fruite, Graves, Oasis and Rougemont.

http://www.globalpost.com/dispatch/news/the-canadian-press/130510/lassonde-industries-boosts-dividend-q1-profits-rise-3-almost