Business
Canadian Tire Corporation Reports Strong Q3 Results, Increases Dividend 15.3% and Announces a New Share Repurchase Program
Canadian Tire Corporation Reports Strong Q3 Results, Increases Dividend 15.3% and Announce...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n\n\n\nCanadian Tire Corporation Reports Strong Q3 Results, Increases Dividend 15.3% and Announces a New Share Repurchase Program\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 8, 2018\n\n\n\nStrong topline growth in the third quarter in retail and financial services Consolidated comparable sales up 2.5%; CTR up 2.2%; FGL up 2.2%; Mark's up 6.1% Financial Services receivables grew 11.2%Third quarter diluted EPS was $3.15. Normalized EPS was $3.47, up 34.1%, adjusted for Helly Hansen acquisition costs Retail IBT grew 4.1%. Normalized retail IBT grew 18.0%, adjusted for Helly Hansen acquisition costs Financial Services IBT grew 31.6%Increase of $0.55 or 15.3% in the annual dividend from $3.60 to $4.15 per share on each Class A Non-Voting and Common Share Intention to return capital to shareholders through repurchase of $300-$400 million of Class A Non-Voting Shares by the end of 2019 TORONTO, Nov. 8, 2018 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.A) today released third quarter results for the period ended September 29, 2018.\n\"We delivered strong topline growth in our retail and financial services businesses this quarter. The exceptional success of Triangle Rewards™, a strong start from Helly Hansen and our continued commitment to the substantial investments we are making to develop the future capabilities required to meet our customers' expectations, will be fundamental to the long-term growth of CTC for years to come\", said Stephen Wetmore, President and CEO, Canadian Tire Corporation. \"With the national rollout of deliver-to-home capabilities at CTR, combined with our best-in-class store and digital experience, our customers can now shop how they want, when they want at any of our banners.\"\n\"The double-digit increase in our dividend and the continuation of our share repurchase program further signal our confidence in the Company's future,\" continued Wetmore. \nCONSOLIDATED OVERVIEW\nConsolidated retail sales increased $164.2 million, or 4.4%, in the third quarter. Excluding Petroleum, consolidated...