Net income for the 12 months ended Dec. 28 rose to $31.3 million, including $8.7 million in the fourth quarter.
[LUNENBURG, NS] - High Liner Foods Inc. had a much more profitable year in 2013, as net income for the 12 months ended Dec. 28 soared to $31.3 million, including $8.7 million in the fourth quarter.
In 2012, it had a net loss of $2.7 million or 17 cents per share in the fourth quarter and only $2.2 million of net income for the full year.
The Nova Scotia-based frozen seafoods company attributed the improvement to a number of factors, including reduced financing costs and fewer one-time items related to acquisitions.
High Liner said its quarterly dividend will go up to 19 cents per share, payable March 17.