Record sales prompt dividend hike

Article Excerpt

ANDREW PELLER LTD. $12 (Toronto symbol ADW.A; Income Portfolio, Consumer sector; Shares outstanding: 14.3 million; Market cap: $171.6 million; Price-to-sales ratio: 0.6; Dividend yield: 3.3%; TSINetwork Rating: Above Average; www.andrewpeller.com) reported that its sales rose 4.4% in the fiscal year ended March 31, 2013, to a record $289.1 million from $276.9 million in 2012. The winemaker continues to benefit from its November 2011 licensing deal with the Wayne Gretzky Estates winery. The 2011 acquisition of a home wine making kit company, plus the launch of several new products, also contributed to the higher sales. Peller earned $1.12 a share for the year, up 20.4% from $0.93. The company also raised its dividend for the fifth time in eight years. The new annual rate of $0.40 a share, up 11.1% from $0.36, yields 3.3%. Andrew Peller is a buy. buy…