Packages of Maple Leaf Foods chicken breasts. The company posted a fourth-quarter profit of $391.2-million as poultry sales jumped 13.1 per cent.Richard Buchan/The Canadian Press
Maple Leaf Foods Inc. MFI-T reported a fourth-quarter profit of $391.2-million, up from $53.5-million a year earlier, boosted by the spinoff of its pork business.
The company says its profit amounted to $3.06 per diluted share for the quarter ended Dec. 31, up from 43 cents per diluted share a year earlier.
On an adjusted basis, Maple Leaf says it earned 32 cents per share in its latest quarter, up from 18 cents per share in the final quarter of 2024.
It also announced about a 10-per-cent dividend increase, with the quarterly payout rising to 21 cents from 19 cents.
Sales for the quarter totalled $991.2-million, up from $917.1-million a year earlier.
Canada Packers posts lower fourth-quarter profit as sales edge higher
Maple Leaf says the increase came as prepared foods sales gained 6.1 per cent, while poultry sales increased 13.1 per cent.
The company spun off its pork business as Canada Packers Inc. CPKR-T last year.
- with a file from Globe staff