Shoppers Drug hikes dividend on higher sales, market share, cost control

TORONTO -- Shoppers Drug Mart Corp. (TSX:SC) is reporting stable profit, slightly higher revenue and a bigger dividend for its shareholders.

The Toronto-based pharmacy retailer says its net income was $175 million in the fourth quarter, or 85 cents per share. Revenue was up 4.4 per cent from a year earlier to $2.72 billion, based on higher pharmacy volumes and market share gains in other goods.

Shoppers says its quarterly dividend will rise 7.5 per cent to 28.5 cents per share.