Dollarama reports $261.3M Q4 profit, raises quarterly dividend

MONTREAL –

Dollarama Inc. raised its dividend because it reported a fourth-quarter revenue of $261.3 million, up from $220.0 million a yr earlier.

The retailer says it’s going to now pay a quarterly dividend of seven.08 cents per share, up from 5.53 cents per share.

The elevated fee to shareholders got here as Dollarama says it earned 91 cents per diluted share for the 13-week interval ended Jan. 29, up from 74 cents per diluted share a yr earlier.

Sales for the quarter totalled $1.47 billion, up from $1.22 billion in the identical quarter final yr.

Dollarama says comparable-store gross sales grew 15.9 per cent because the variety of transactions rose 14.1 per cent and the common transaction dimension elevated 1.6 per cent.

In its outlook for its 2024 monetary yr, the corporate says it expects 60 to 70 web new retailer openings and comparable retailer gross sales progress of 5.0 to six.0 per cent. Dollarama says it expects gross margins of 43.5 to 44.5 per cent.

This report by The Canadian Press was first revealed March 29, 2023