CAE Inc. reports Q1 profit down from year ago

Montreal flight sim maker increases dividend despite missing analysts' performance expectations.

0 August 14, 2019
The Canadian Press
The Canadian Press

CAE flight simulator

Photo: CAE Inc.

MONTREAL – CAE Inc. raised its dividend as it reported its first-quarter profit slipped lower compared with a year ago. The flight simulator and training company says it will pay a quarterly dividend of 11 cents per share, up from 10 cents.

The increased payment came as CAE reported a profit attributable to shareholders of $61.5 million or 23 cents per share. That compared with a profit of $69.4 million or 26 cents per share in the same quarter last year.

Revenue totalled $825.6 million, up from $722.0 million. Excluding specific items, CAE says it earned 24 cents per share in its most recent quarter, down from 26 cents per share a year ago. Analysts on average had expected a profit of 28 cents per share for the quarter, according to the financial markets data firm Refinitiv.

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