HALIFAX - Clarke Inc. (TSX:CKI), a diversified Nova Scotia concern with interests in freight transportation, home heating and other things, has announced a six-cent per share quarterly dividend.
The dividend, representing an annual yield of about 6.1 per cent based on Friday's closing price of $3.92 per share, came despite a sharply higher year-over-year net loss attributable to shareholders in the second quarter.
The $11.3-million loss, amounting to 67 cents per share, was attributed to unrealized losses on the company's investment portfolio of $12.9 million.
The loss in the comparable 2011 period was $1.7 million or nine cents per share.
Revenue in the three months ended June 30 was $47.3 million, up from $45.5 million in the prior-year period as a result of what Clarke said were "continued positive trends in its freight transportation and commercial tanks and home heating segments."
"We are pleased with the operations and results of Clarke's subsidiary companies and are excited to pass that along to the company's shareholders," company chairman Rex Anthony said in a statement.
"Over the next several quarters, the board of directors will consider increasing the company's dividend depending on business conditions and expectations," he added.