CAE Inc. is signalling its faith in a strong future by tripling its dividend. "We felt that we had reached a turning point in terms of the company," CAE chief executive officer Robert Brown said yesterday, after announcing the quarterly dividend will rise to 3 cents, or an annualized yield of less than 1 per cent. CAE reported a 20-per-cent climb in full-year profit to $152.7-million.
Profit at the flight-simulator company's fourth quarter
ended March 31 increased to $35.6-million, compared with $34.3-million a year earlier. CAE is benefiting from an expansion in air travel in East Asia, India and the Persian Gulf. Clients that ordered flight simulators or booked training contracts last quarter include India's government. CAE (TSX) rose 3 cents to $13.12.
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