Couche-Tard profit falls nearly 11 percent

Tue Jul 14, 2015 9:30am EDT
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(Reuters) - Canadian convenience store and gasoline station operator Alimentation Couche-Tard (ATDb.TO: Quote) on Tuesday reported a 10.8 percent fall in quarterly profit, largely due to one-time costs related to its purchase of smaller U.S. rival Pantry Inc.

The company raised its quarterly dividend by more than 22 percent to 5.5 Canadian cents.

Net income fell to $129.5 million, or 23 cents per share, in the fourth quarter ended April 26 from $145.1 million, or 25 cents per share, a year earlier.

Revenue fell 18.6 percent to $7.28 billion.

(Reporting by Solarina Ho in Toronto and Manya Venkatesh in Bengaluru; Editing by Sriraj Kalluvila)

A Couche-Tard sign is pictured in Quebec City June 9, 2010. REUTERS/Mathieu Belanger