The Canadian Press - ONLINE EDITION

Toll highway operator 407 International boosts dividend by 75 per cent

  • Print

TORONTO - Toll highway owner 407 International Inc. has boosted its dividend by 75 per cent after higher tolls raised fourth-quarter profits by more than 30 per cent.

The operator of the 108-km road north of Toronto said it earned $51.3 million for the three months ended Dec. 31, compared to $39.3 million a year earlier.

Revenues grew 9.2 per cent to $204.5 million as the average revenue per trip increased to $6.97 from $6.40 a year earlier. The total number of trips was flat at 29.4 million in the quarter and 114.8 million for the year.

For the full year, the company says it earned $248.7 million, up from $174.4 million in 2012.

Revenues were $801.2 million, compared with $734 million a year earlier.

The company said it will pay a 22.6 cents per share dividend, up from 12.9 cents in 2012. That will translate into increased proceeds for SNC-Lavalin (TSX:SNC) which owns 16.77 per cent of the toll road, Canada Pension Plan Investment Board (40 per cent) and Ferrovial subsidiary Cintra Infraestructuras (43.23 per cent).

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Jim Flaherty remembered at visitation as irreplaceable

View more like this

Photo Store Gallery

  • Young goslings jostle for position to take a drink from a puddle in Brookside Cemetery Thursday morning- Day 23– June 14, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • Young goslings are growing up quickly near Cresent Lake in Portage La Prairie, Manitoba- See Bryksa 30 Day goose project- Day 11- May 15, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Do you think Manitoba needs stronger regulations for temporary workers?

View Results

View Related Story

Ads by Google