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Contrans Says 1Q Income Slips; Boosts Dividend

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5/6/2011 12:30:00 PM

Contrans Group said its first-quarter earnings declined, but boosted its dividend and said it saw signs of increased shipping activity.

Net income declined to fell to C$3.4 million, or 10 Canadian cents a share, from C$3.6 million, or 12 cents, a year earlier.

Revenue excluding fuel surcharges rose about 8% to C$101.1 million, the company said late Thursday.

Contrans also boosted its quarterly dividend by a 25%, to 8 Canadian cents a share.

Woodstock, Ontario-based Contrans is ranked No. 58 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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