TORONTO - Thomson Reuters Corp. raised its dividend as it reported a fourth-quarter profit of US$562 million and beat expectations.
The company, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 40.5 cents per share, up from 38 cents.
The increased payment to shareholders came as Thomson Reuters says it earned US$1.13 per diluted share for the quarter ended Dec. 31, down from a profit of US$1.32 billion or US$2.64 per diluted share a year ago when it benefited from a large one-time gain.
Revenue for the quarter totalled $1.62 billion, up from $1.58 billion in the fourth-quarter of 2019.
On an adjusted basis, Thomson Reuters says it earned 54 cents per share for its most recent quarter, up from an adjusted profit of 37 cents per share a year earlier.
Analysts on average had expected an adjusted profit of 46 cents per share according to financial data firm Refinitiv.