WESTJET $26.11 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1-877-493- 7853; www.westjet.com; Shares outstanding: 129.4 million; Market cap: $3.3 billion; Dividend yield: 1.8%) reports that its earnings rose 11.3% in the three months ended December 31, 2013, to $67.8 million from $60.9 million a year earlier. Earnings per share gained 13.0%, to $0.52 from $0.46, on fewer shares outstanding.
Revenue increased 7.6%, to $926.4 million from $860.6 million.
Demand for the company’s flights remains high, and it continues to enter into new partnerships with other airlines.
The launch of its new Canadian regional airline, WestJet Encore, has also gone well. All of these strengths should help WestJet maintain growth in its revenue and profits.
The company has just raised its quarterly dividend by 20.0%, to $0.12 from $0.10. The shares now yield 1.8%.
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