August 10, 2012 / 11:31 AM / 5 years ago

Stella-Jones profit rises on robust railroad tie sales

Aug 10 (Reuters) - Stella-Jones Inc, which makes wood products for railroads and utilities, reported a 21 percent rise in second-quarter profit on strong demand for railway ties.

The company also raised its quarterly dividend to 16 Canadian cents from 15 Canadian cents.

The net income rose to C$20.8 million ($20.9 million), or C$1.30 per share, from C$17.3 million, or C$1.08 per share, a year earlier.

Revenue increased 13 percent to C$203.9 million. Sales of railway ties -- used as a base for railway tracks -- were up nearly 26 percent at C$120.1 million.

Shares of the Montreal-based company closed at C$57.72 on Thursday on the Toronto Stock Exchange.

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