Business
Dollarama reports record results to close fiscal 2012 and increases dividend by 22%
MONTREAL, April 11, 2012 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corp...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, April 11, 2012 /CNW Telbec/ - Dollarama Inc. (TSX: DOL)\n (\"Dollarama\" or the \"Corporation\") reported significant increases in\n sales and net earnings today for the quarter and fiscal year ended\n January 29, 2012. These strong results support the Board of Directors'\n initiative to return value to shareholders by increasing the quarterly\n dividend from $0.09 to $0.11 per common share, while retaining full\n financial flexibility to support Dollarama's growth strategy.\n\n\nFinancial and Operating Highlights \n\n\n(All comparative figures below and in the \"Financial Results\" section\n that follows, are for the fourth quarter and fiscal year ended\n January 29, 2012 compared to the fourth quarter and fiscal year ended\n January 30, 2011.  All financial information presented in this news\n release has been prepared in accordance with generally accepted\n accounting principles in Canada which were revised to incorporate\n International Financial Reporting Standards (\"IFRS\") as issued by the\n International Accounting Standards Board and became effective for years\n beginning on or after January 1, 2011.  Accordingly, the Corporation\n commenced reporting on this basis in its unaudited condensed interim\n consolidated financial statements for the quarter ended May 1, 2011,\n and, for comparison purposes, all figures relating to the fiscal year\n ended January 30, 2011 as well as the consolidated statement of\n financial position as of February 1, 2010 have been restated to reflect\n the Corporation's adoption of IFRS, effective from February 1, 2010. As\n a result of the adoption of IFRS, there were no material changes\n required to the Corporation's statement of comprehensive income.  At\n the transition date, a one-time adjustment was required to recognize an\n additional deferred tax liability of $7.0 million through retained\n earnings in the statement of financial position.  Throughout this news\n release, EBITDA and Normalized net earnings, collectively referred to\n as the \"Non-IFRS Measures\", are used to provide a better understanding\n of the Corporation's financial results. For a full explanation of the\n Corporation's use of the Non-IFRS Measures, please refer to footnote 1\n of the \"Selected Consolidate...