Couche-Tard profit falls nearly 11 pct

Tue Jul 14, 2015 9:27am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

July 14 (Reuters) - Canadian convenience store and gasoline station operator Alimentation Couche-Tard 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)