Alimentation Couche-Tard to split shares as Q1 profit surges to US$538.8 million
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Winnipeg Free Press access to your Brandon Sun subscription for only
$1 for the first 4 weeks*
*$1 will be added to your next bill. After your 4 weeks access is complete your rate will increase by $0.00 a X percent off the regular rate.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 04/09/2019 (2204 days ago), so information in it may no longer be current.
LAVAL, Que. – Alimentation Couche-Tard Inc. says it is proceeding with a two-for-one split of its shares as the convenience store giant’s profitability continued to grow in the first quarter of its fiscal year.
The Quebec-based retailer says the record date of the split of its Class A and B shares is Sept. 20 and the shares will begin trading on a post-split basis on Sept. 30. Couche-Tard’s shares closed up 54 cents at $82.34 in Wednesday trading on the Toronto Stock Exchange.
The company said after markets closed that its net profit attributable to shareholders for the quarter surged 18 per cent year over year to US$538.8 million or 95 cents per diluted shares, up from US$455.6 million or 81 cents per share a year earlier.
Excluding one-time items, adjusted profits for the period ended July 21 equalled 97 cents per share, up from 87 cents per share a year earlier.
Revenues were US$14.16 billion, down 4.2 per cent from US$14.79 billion in the first quarter of 2019.
The retailer was expected to post 95 cents in adjusted earnings on US$15 billion in revenues, according to the financial markets data firm Refinitiv.
Companies in this story: (TSX:ATD.B)
Note to readers: This is a corrected story. A previous version had the incorrect analyst expecations for adjusted earnings per share.