Algoma Central Corp. (ALC.TO: Quote) reported second-quarter net earnings of C$20.5 million or C$4.97 per share, up from C$17.5 million or C$4.20 per share in the comparable quarter last year.
The company attributed the increase in earnings mainly to improved operating earnings of the Domestic Dry-Bulk segment and reduced financial expense.
Revenue for the latest quarter rose to C$165.6 million from C$156.2 million last year.
The Board of Directors of the company authorized the payment of a quarterly dividend of $0.60 per share, payable on September 4 to shareholders of record on August 21.
Click here to receive FREE breaking news email alerts for Algoma Central Corp and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com