October 12, 2010 / 1:16 PM / 8 years ago

UPDATE 1-Amica Mature Lifestyle posts Q1 profit; ups dividend

* Q1 EPS C$0.07 vs breakeven per share yr ago

* Consolidated revenue up 8 pct to C$11.1 mln

* Says increases qtrly div 17 pct to C$0.07/shr

Oct 12 (Reuters) - Canada’s Amica Mature Lifestyles Inc ACC.TO, which operates retirement communities for seniors, posted a first-quarter profit, helped by higher overall occupancy, and increased its quarterly dividend by 17 percent.

For June-August, net income was C$1.4 million ($1.4 million), or 7 Canadian cents per share, compared with a loss of C$13,000, or breakeven per share, a year earlier.

Consolidated revenue rose 8 percent to C$11.1 million.

Overall occupancy was 91.5 percent, up from 89.2 percent a year earlier, said Amica, which declared a quarterly dividend of 7 Canadian cents per share.

Vancouver, British Columbia-based Amica’s shares, which have gained nearly a quarter of their value over the last three months, closed at C$6.15 Friday on the Toronto Stock Exchange. ($1=1.013 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Anne Pallivathuckal)

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