As usual, they have increased the dividend. This is the 12th in a row, which is much more significant than that they raised it a penny.
This is yet another indication that things have been going well AND that sales continue to be strong.
Alberta is the best auto market in Canada and that is where the AutoCanada business is focused.
Chrysler has been about the strongest brand in the country and that is the most common AutoCanada dealership Brand.
Note that the blurb from Seeking Alpha (below) leaves out the important points, which is how strong the reports of vehicle sales have been in Canada and how AutoCanada's business is focused on the best locations and best-selling brands.
Not to even mention that Management in its press release (below) provides guidance that Q1 is going well and that conditions are right (low interest rates and lots of demand) for continued extraordinary success.
from Seeking Alpha:
AUTOCANADA INC declares $0.22 dividend • 12:37 PM
•AutoCanada Inc. (OTC:AOCIF) declares $0.22/share quarterly dividend, 4.8% increase from prior dividend of $0.21.
•Forward yield 2.33%
•Payable March 17; for shareholders of record Feb. 28; ex-div Feb. 26.
AutoCanada Inc. Announces its Twelfth Consecutive Quarterly Dividend Increase
EDMONTON, Feb. 14, 2014 /CNW/ - AutoCanada Inc. ("AutoCanada") (TSX:ACQ) today announced that its Board of Directors has declared a quarterly eligible dividend of $0.22 per common share, an increase of 4.8% from the previous quarterly dividend of $0.21 per common share. The dividend is payable on March 17, 2014 to shareholders of record at the close of business on February 28, 2014. The declared dividend represents a rate of $0.88 per share on an annualized basis.
"The Company is pleased to continue to raise the dividend on a quarterly basis for the past twelve consecutive quarters. The Canadian automotive retail, service, and financing environment continues to be strong and the dividend increase reflects our continued confidence in the market." stated Pat Priestner, Chief Executive Officer of AutoCanada.
Disclosure: I am long AOCIF.