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Alimentation CoucheTard Inc raises dividend as profit increases

LAVAL, Que. — 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.How long can the highs last for Alimentation Couche-Tard Inc shares?Alimentation Couche-Tard reassures investors after CFO resigns suddenlyCouche-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. read more

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