Couche-Tard second-quarter profit up from year ago, increases dividend

LAVAL, Que. – Alimentation Couche-Tard Inc. (TSX:ATD.B) 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.

Couche-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.