Saputo Inc, Canada's largest dairy producer, reported higher quarterly earnings on Tuesday, lifted by recent acquisitions.The Montreal-based company also increased its quarterly dividend by 13 percent to 26 Canadian cents from 23 Canadian cents and announced a two-for-one stock split.For Saputo's first quarter through June 30, net income rose to C$145.3 million ($133.3 million), or 73 Canadian cents a share, from C$136.7 million, or 69 Canadian cents, a year earlier.Revenue during the quarter jumped nearly 21 percent to C$2.6 billion, bolstered by Saputo's February acquisition of a majority control of Australia's Warrnambool Cheese and Butter Factory Company Holdings Ltd.
Saputo Inc. is a dairy processor in Canada and cheese producer in the United States. Shares of SAP traded higher by 1.84% or $1.24/share to $68.81. In the past year, the shares have traded as low as $46.13 and as high as $68.07. On average, 222334 shares of SAP.TO exchange hands on a given day and today's volume is recorded at 252592.
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