February 23, 2012 / 12:47 PM / in 5 years

Tim Hortons profit falls, raises div

Feb 23 (Reuters) - Tim Hortons Inc reported a 73 percent drop in fourth-quarter profit, but the coffee and doughnut chain raised its quarterly dividend by 24 percent

Net income for the quarter ended Jan. 1 fell to C$103.0 million ($103.05 million), or 65 Canadian cents a share, from C$377.1 milllion, or C$2.19 a share, a year ago.

Revenue rose 21 percent to C$779.8 million.

Sales at established stores in Canada rose 6 percent.

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