May 6, 2010 / 1:25 PM / 8 years ago

UPDATE 1-Dorel profit rises, boosts dividend

* EPS $1.12 vs previous $0.84

* Rev up 13.5 pct at $596.3 mln

* Boosts div 20 pct to 15 cents a share

(In U.S. dollars. Adds details)

TORONTO, May 6 (Reuters) - Dorel Industries Inc DIIb.TO boosted its dividend by 20 percent on Thursday as it reported a big jump in its quarterly results.

The Montreal-based company, whose products include ready-to-assemble furniture, Safety 1st children’s products, and bicycles, earned $37.4 million, or $1.12 a share, in the first quarter, up from $28 million, or 84 cents a share, a year earlier.

Revenue for the quarter rose 13.5 percent to $596.3 million.

Sales in its juvenile furniture division rose 12.5 percent to $285.8 million, while sales in the recreation and leisure product division were also up 12.5 percent at $181.7 million. Home furnishing revenue gained 17.3 percent to $128.8 million.

The company also raised its quarterly dividend by 20 percent to 15 cents a share. ($1=$1.03 Canadian) (Reporting by Scott Anderson; Editing by Derek Caney)

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