Aug 4 (Reuters) - Canadian dairy producer Saputo Inc
SAP.TO bumped up its dividend on Tuesday as it reported a
slightly lower quarterly profit.
The company said its quarterly dividend would increase 3.8
percent to 13-1/2 Canadian cents a share from 13 cents.
For Saputo's first quarter, net income fell to C$136.4
million ($103.88 million), or 34 Canadian cents a share, from
C$145.3 million, or 36 Canadian cents, a year earlier.
Revenue during the quarter, which ended June 30, dipped 2.2
percent to C$2.56 billion.
Analysts had expected Saputo to earn 34 Canadian cents a
share on revenue of C$2.66 billion, according to Thomson Reuters
I/B/E/S.
Saputo's shares gained 1.2 percent to C$30.32 in Toronto,
touching a one-month high.
The Montreal-based company, whose brands include Dairyland
milk and Armstrong cheese, is among the top three cheese
producers in the United States and also has significant
operations in Argentina and Australia.
($1=$1.31 Canadian)
(By Rod Nickel in Winnipeg, Manitoba; Editing by Peter
Galloway)