TORONTO — TMX Group Ltd. says it's boosting its quarterly dividend eight per cent after reporting a strong end to its fiscal year.
The company, which operates the Toronto Stock Exchange, will pay 83 cents per common share on March 11, up from 77 cents per share.
The increase comes as the company says its profit jumped 22 per cent to $87.9 million in the fourth quarter.
Adjusted profits climbed to $99 million or $1.77 per diluted share, from $81.3 million or $1.43 per share a year earlier.
Revenues for the three months ended Dec. 31 were $252.4 million, up 15 per cent from $219.5 million in the 2020 fourth quarter.
TMX was expected to post $1.72 per share in adjusted earnings on $251.4 million in revenues, according to financial data firm Refinitiv.
"We were pleased to deliver very strong financial results this past quarter with revenue growth of 15 per cent and organic revenue growth of 11 per cent," stated chief financial officer David Arnold.
"While equities and fixed income trading revenue was down slightly, we delivered solid growth in each of our other businesses led by capital formation, which also reflected the benefit from the AST Canada acquisition."
For the full year, it earned $338.5 million and $401.2 million in adjusted profits on $980.7 million of revenues.
This report by The Canadian Press was first published Feb. 7, 2022.
Companies in this story: (TSX:X)
The Canadian Press
