MONTREAL — CAE Inc. raised its dividend as it reported its first-quarter profit slipped lower compared with a year ago.
The flight simulator and training company says it will pay a quarterly dividend of 11 cents per share, up from 10 cents.
The increased payment came as CAE reported a profit attributable to shareholders of $61.5 million or 23 cents per share. That compared with a profit of $69.4 million or 26 cents per share in the same quarter last year.
Revenue totalled $825.6 million, up from $722.0 million.
Excluding specific items, CAE says it earned 24 cents per share in its most recent quarter, down from 26 cents per share a year ago.
Analysts on average had expected a profit of 28 cents per share for the quarter, according to the financial markets data firm Refinitiv.
Companies in this story: (TSX:CAE)
The Canadian Press