Linamar Corporation Declares Dividend for the Quarter Ended December 31, 2016, Payable on or After April 17, 2017; Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Tax Rate Guidance for the Full Year of Fiscal 2017
March 08, 2017 at 04:01 pm EST
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The Board of Directors of Linamar Corporation declared an eligible dividend for the quarter ended December 31, 2016 of CAD 0.12 per share on the common shares of the company, payable on or after April 17, 2017 to shareholders of record on April 3, 2017.
The company announced earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company announced sales of CAD 1,374.8 million compared to CAD 1,243.0 million for the same period a year ago. Operating earnings were CAD 147 million compared to CAD 131.4 million for the same period a year ago. Net earnings were CAD 116.1 million compared to CAD 95.3 million for the same period a year ago. Net earnings per diluted share were CAD 1.76 compared to CAD 1.45 for the same period a year ago. Capital expenditure was CAD 90 million. Net cash generated from operating activities was CAD 275.3 million. Free cash flow was CAD 185.1 million.
For the full year, the company announced sales of CAD 6,005.6 million compared to CAD 5,162.4 million for the same period a year ago. Operating earnings were CAD 696.8 million compared to CAD 597 million for the same period a year ago. Net earnings were CAD 522.1 million compared to CAD 436.7 million for the same period a year ago. Net earnings per diluted share were CAD 7.92 compared to CAD 6.63 for the same period a year ago.
The company is expecting the effective tax rate for 2017 to be in the range of 22% to 24%.
Linamar Corporation is a Canada-based advanced manufacturing company. The Company is engaged in providing manufacturing solutions and developing engineered products. Its segments include Industrial and Mobility. The Industrial segment consists of MacDon, Salford, Bourgault, and Skyjack. MacDon manufactures combined draper headers and self-propelled windrowers for the agricultural harvesting industry. Skyjack manufactures scissor, boom, and telehandler lifts for the aerial work platform industry. The Mobility segment is focused on propulsion systems, structural and chassis systems, energy storage and power generation for both the global electrified and traditionally powered vehicle markets and is subdivided into three regional groups and one global product group: North America, Europe, Asia Pacific, and the newly formed Structures Group. The regional mobility groups are vertically integrated operations combining expertise in light metal casting, forging, machining, and assembly.
Linamar Corporation Declares Dividend for the Quarter Ended December 31, 2016, Payable on or After April 17, 2017; Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Tax Rate Guidance for the Full Year of Fiscal 2017