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.
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by RTT Staff Writer
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