Richelieu Hardware raises quarterly dividend, reports full-year profit up nearly 20%

MONTREAL — Richelieu Hardware Ltd. raised its quarterly dividend as it reported its profit for its latest financial year rose nearly 20 per cent compared with the previous year.

The hardware supplier says it will pay a quarterly dividend of 15 cents per share, up from 13 cents per share.

The increased payment to shareholders came as Richelieu reported earnings attributable to shareholders of $168.4 million or $2.99 per diluted share for the year ended Nov. 30, 2022.

The result compared with a profit of $141.8 million or $2.51 per diluted share for the same period a year earlier.

Sales for the year totalled $1.80 billion, up from $1.44 billion a year earlier.

Richelieu is an importer, manufacturer and distributor of specialty hardware and other products.

This report by The Canadian Press was first published Jan. 19, 2023.

Companies in this story: (TSX:RCH)

The Canadian Press