Torstar Corp. is increasing dividend by 5% despite posting a lower revenue in the first quarter of 2012.
The publisher of Toronto Star said today revenue was $350.8 million for the three months ending March 31, 2012, down from $351.4 million in the same period last year.
It also reported a net income of $29.3 million, or $0.37 per share, in the first quarter of 2012.
That is up from $15.5 million, or $0.20 per share, in the first quarter of 2011.
The company says the dividend will go up from $0.125 to $0.13125 per share as of June 30.
