Wajax Corp. (WJX.TO) reported that its net earnings for the fourth quarter of 2023 declined to C$11.1 million or C$0.52 per basic share from C$16.6 million or C$0.78 per basic share in 2022.
Adjusted net earnings were C$17.8 million or C$0.80 per share, in both the fourth quarter of 2023 and the fourth quarter of 2022.
Revenue for the fourth quarter of 2023 increased to C$542.6 million, from C$541.3 million in the fourth quarter of 2022.
Analysts polled by Thomson Reuters expected the company to report earnings of C$0.86 per share and revenues of C$543.7 million for the fourth quarter. Analysts' estimates typically exclude special items.
Wajax also announced that its Board has approved a 6% increase in the Corporation's quarterly dividend. The company has declared a dividend of C$0.35 per share for the first quarter of 2024, payable on April 2, 2024, to shareholders of record on March 15, 2024.
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