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CAE Inc. reports Q1 profit down from year ago, increases dividend

CAE corporate headquarters are shown in Montreal on August 10, 2016. 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 CANADIAN PRESS/Graham Hughes

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