February 22, 2011 / 6:00 PM / 7 years ago

UPDATE 1-Canada's High Liner Q4 profit halves

* Revenue falls 5 pct

* Raises quarterly dividend by 6 pct

Feb 22 (Reuters) - Canadian frozen seafood processor High Liner Foods’s fourth-quarter profit nearly halved, hurt lower sales in its domestic market.

However, the company raised its quarterly dividend by 6 percent to 9 Canadian cents a share.

For the quarter ended Jan. 1, net income fell to C$2 million, or 13 Canadian cents a share, from C$3.8 million, or 21 Canadian cents a share, last year.

Sales fell 5 percent to C$140.7 million, with sales in Canada falling 7 percent to C$71.7 million.

Sales were also hurt by a stronger Canadian dollar, which appreciated 5.7 percent against the U.S. dollar last year and has hovered around parity with the greenback so far this year.

Shares of Nova Scotia-based company were trading nearly flat at C$16.47 on Tuesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Anne Pallivathuckal)

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