Seaspan Corp. Monday posted increase in fourth-quarter profit, reflecting higher revenue and operating earnings.
Net earnings increased to $141.59 million or $1.60 per share from $74.69 million or $0.78 per share year ago.
Normalized net earnings attributable to common shareholders amounted to $19.27 million compared to normalized earnings of $14.79 million last year.
Nine analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenue rose to $117.95 million from $78.58 million prior year, while analysts anticipated revenue of $117.12 million.
The increase in revenue is due to an increase in operating days and the dollar impact thereof for the quarter and year ended December 31, 2010.
Gerry Wang, Chief Executive Officer, said, "For 2011, we anticipate that we will be able to increase our annualized dividend by approximately 50 percent to $0.75 per share, starting with a $0.1875 per share dividend for the first quarter of 2011."
Net earnings increased to $141.59 million or $1.60 per share from $74.69 million or $0.78 per share year ago.
Normalized net earnings attributable to common shareholders amounted to $19.27 million compared to normalized earnings of $14.79 million last year.
Nine analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenue rose to $117.95 million from $78.58 million prior year, while analysts anticipated revenue of $117.12 million.
The increase in revenue is due to an increase in operating days and the dollar impact thereof for the quarter and year ended December 31, 2010.
Gerry Wang, Chief Executive Officer, said, "For 2011, we anticipate that we will be able to increase our annualized dividend by approximately 50 percent to $0.75 per share, starting with a $0.1875 per share dividend for the first quarter of 2011."