March 11, 2011 / 12:37 PM / in 7 years

UPDATE 1-Stella Jones profit jumps on strong railway tie sales

March 11 (Reuters) - Stella-Jones Inc’s fourth-quarter profit more than tripled helped mainly by stronger railway tie sales, but the maker of treated wood products said deliveries are expected to slightly soften in the first quarter.

The company raised its semi-annual dividend by 20 percent to 24 Canadian cents per share.

The company, which supplies poles and railroad ties by treating wood it buys from sawmills, reported a net income of C$10.8 million, or 67 Canadian cents a share, compared with C$3.0 million, or 24 Canadian cents a share, a year ago.

Sales more than doubled to C$133.1 million. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)

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