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Resolute Forest Products third-quarter profit up, paying special dividend

Last Updated Nov 1, 2018 at 9:00 am PST

The Resolute Forest Products logo is shown in a handout. Resolute Forest Products Inc. announced it would pay a special dividend as it reported a third-quarter profit of US$117 million, up from $24 million a year ago. THE CANADIAN PRESS/HO

MONTREAL – Resolute Forest Products Inc. announced it would pay a special dividend as it reported a third-quarter profit of US$117 million, up from $24 million a year ago.

The company, which keeps its books in U.S. dollars, says it will make a special payment of $1.50 per share to shareholders of record on Dec. 6.

Resolute’s third-quarter profit amounted to $1.25 per diluted share, up from 26 cents per diluted share a year ago.

Sales totalled $974 million in the quarter, up from $885 million in the third quarter of 2017.

Excluding special items, Resolute says it earned $96 million or $1.03 per share for the quarter, up from $31 million or 34 cents per share a year ago.

Analysts on average had expected a profit of 71 cents per share, according to Thomson Reuters Eikon.

Companies in this story: (TSX:RFP)