August 6, 2010 / 3:31 PM / 7 years ago

UPDATE 1-Wajax Q2 profit up 24 pct; declares special dividend

* Q2 EPS C$0.72 vs C$0.59 yr ago

* Q2 revenue up about 10 pct

* Declares special dividend for Aug, Sept, Oct

* Units up 4 pct

Aug 6 (Reuters) - Canada’s Wajax Income Fund WJX_u.TO posted higher quarterly results, helped by better performances at all three of its business segments, and declared a special dividend for three months starting August.

For the second quarter, the trust, which distributes mobile equipment, industrial components and power systems, earned C$12.2 million, or 72 Canadian cents per unit, compared with C$9.8 million, or 59 Canadian cents per unit, a year ago.

Revenue rose nearly 10 percent to C$272.3 million.

Analysts were expecting the company to earn 61 Canadian cents a share on revenue of C$243.8 million, according to Thomson Reuters I/B/E/S.

Mobile equipment segment rose 12 percent, while power systems increased 9 percent and industrial components 6 percent.

The fund declared special monthly cash distributions of 20 Canadian cents per unit for each of August, September and October.

Units of the Toronto-based company were up 4 percent at C$26.93 Friday morning on the Toronto Stock Exchange. (Reporting by Soham Chatterjee in Bangalore; Editing by Maju Samuel)

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