Business
Goodfellow Reports Its Results for the Fourth Quarter and Fiscal Year Ended November 30, 2024 and Declares a Dividend
DELSON, Quebec, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Goodfellow Inc. (TSX: GDL) (the “Company...
About this update from Goodfellow Inc.
[{"type":"text","content":"Goodfellow Reports Its Results for the Fourth Quarter and Fiscal Year Ended November 30, 2024 and Declares a Dividend\n\n\n\n DELSON, Quebec, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Goodfellow Inc. (TSX: GDL) (the “Company” or “Goodfellow”) announced its financial results today.\n \n\n For the fourth quarter ended November 30, 2024, the Company reported net earnings of $2.4 million or $0.29 per share compared to net earnings of $2.1 million or $0.25 per share a year ago. Consolidated sales for the three months ended November 30, 2024 were $124.2 million compared to $125.4 million last year.\n \n\n For the fiscal year ended November 30, 2024, the Company reported net earnings of $13.4 million or $1.58 per share compared to net earnings of $14.7 million or $1.72 per share a year ago. Consolidated sales for the fiscal year ended November 30, 2024 were $509.5 million compared to $512.8 million last year.\n \n\n Goodfellow achieved a stable overall performance in 2024 sustained by infrastructure projects and some promising signs from residential housing starts. However, consumer confidence was characterized overall as cautious and restrained as a result of high inflation and interest rates. Despite these challenges, the Company capitalized on its diversified operations and broad customer base across Canada and the United States to maintain its market presence. In the third quarter of 2024, Goodfellow completed strategic asset acquisitions in the United States, representing an important investment in the wholesale distribution of lumber both domestically and for export markets. With evolving geopolitical conditions, this new U.S.-based distribution network positions Goodfellow for future growth.\n \n\n The Board of directors of Goodfellow Inc. declared an eligible dividend of $0.25 per share payable on March 19, 2025, to shareholders of record at the close of business on March 5, 2025. This dividend is designated as an eligible dividend under the\n \n Income Tax Act\n \n (Canada). The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.\n \n\n\n About Goodfellow\n \n\n\n Goodfellow is a diversified manufacturer of value-added lumber products, as well as a wholesale distributor of building materials and floor coverings. With a distribution footprint f...