TORONTO - TMX Group Ltd. is boosting its dividend by 10 per cent after reporting strong first-quarter results stemming from robust capital markets activity.
The company, which operates the Toronto Stock Exchange, says it will pay 77 cents per common share, an increase of seven cents and the fourth increase in three years. The dividend is payable June 11 to shareholders of record as of close of business on May 28.
TMX also says its first-quarter profit increased 38 per cent to $96.4 million or $1.70 per diluted share, up from $70.1 million or $1.24 per share a year earlier.
The gain followed a 122 per cent increase in financing dollars raised by Toronto Stock Exchange and TSX Venture Exchange issuers, along with record overall equities trading volumes that were up 50 per cent from the first quarter of last year.
Adjusted profits were $106.4 million or $1.88 per share, compared with $87 million or $1.53 per share in the first quarter of 2020.
Revenues grew 14 per cent to $252 million from $220.3 million.
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