CHRISTINNE MUSCHI
Dorel Industries Inc. is giving its dividend a boost after delivering stronger first-quarter results in all three of its product lines.
The Montreal-based maker of car safety seats for children, furniture and bicycles, said profits were up 33 per cent to $37.4-million (U.S.) in the quarter.
That's worth $1.12 per share, an increase from $28 million, or 84 cents a year ago.
Revenue was up 13.5 per cent to $596.3-million from $525.2-million.
The company says it is boosting its dividend to 15 cents per share, an increase of 2.5 cents.
Chief executive and president Martin Schwartz says the company has witnessed stronger consumer confidence in many of its markets, including Europe, though he warned margins could be negatively impacted by rising commodity and freight costs this year.