Dunkin' Brands reports higher profit; hikes dividend
Jan 31 (Reuters) - Dunkin' Brands Group Inc reported a higher quarterly profit on Thursday after sales at established Dunkin' Donuts cafes in the United States came in above analysts' estimates.
The company also raised its quarterly dividend by 4 cents to 19 cents per share.
Dunkin' Donuts shops in the United States account for almost 75 percent of the company's revenue and more than 80 percent of its profit. During the fourth quarter, that business reported a 3.2 percent rise in same-store sales, compared with the 2.4 percent rise analysts polled by Consensus Metrix had expected.
The Canton, Massachusetts-based company, which also owns the Baskin-Robbins ice cream brand, said net income rose to $34.3 million, or 34 cents per share, from $11.6 million, or 30 cents per share, a year earlier.
Revenue fell 4 percent to $161.7 million.
Shares in Dunkin' closed at $35.78 on the Nasdaq on Wednesday.
- Malaysian plane may have flown hours after losing contact: WSJ |
- Missing jet may have strayed to west, Malaysia military says |
- UPDATE 1-U.S. investigators suspect missing Malaysian plane flew for hours -WSJ
- Malaysia failing credibility test as flight confusion deepens
- White House tried to mediate dispute between Senate, CIA panel: source