Maple Leafs Food Expects A Big 2015
CBJ – Prospects for Maple Leaf Foods are looking up after the company announced it had doubled its quarterly dividend recently, with expectations from senior management that the business will make a strong rebound this year following a loss in the last quarter of 2014.
Maple Leaf Foods produces Maple Leaf and Schneiders brand prepared meats, as well as fresh pork and poultry.
The doubling in of the dividend to eight cents per share came as the company reported a loss of $28.2 million or 20 cents per share for the last three months of 2014. That compared with a profit of $511.4 million of $3.58 per share a year ago, before the company sold its holdings in Canada Bread. Sales for the quarter totalled $794 million, up from $748.3 million a year earlier.
Maple Leaf reported a loss from continuing operations of $23 million or 16 cents per diluted share for its latest quarter compared with a loss of $47.9 million or 34 cents per diluted share in the last three months of 2013.