by Christopher Freeburn | February 6, 2014 10:36 am
On Thursday, Dunkin’ Brands Group (DNKN) reported higher fourth-quarter store sales and raised its dividend. The news send DNKN stock surging more than 5% in morning trading.
DNKN stock jumped after the company said it earned $42.1 million during the quarter, up from $34.3 million in the year-ago period. Adjusted EPS came in at 43 cents, which topped the profit of 40 cents per share of DNKN stock that Wall Street was looking for, Reuters noted.
Revenue at DNKN hit $183.2 million during the quarter, up 13% over the prior-year period. That also beat analysts, who had anticipated DNKN revenue of $178.4 million for the quarter.
DNKN announced that its quarterly dividend would increase from 19 cents per DNKN share to 23 cents per share.
Looking forward, DNKN predicted 2014 adjusted profits of between $1.79 and $1.83 a share. Analysts expect 2014 adjusted DNKN EPS of $1.80 a share. DNKN also anticipated 2014 sales to rise between 6% and 8% over last year.
DNKN stock has rise more than 28% over the past year. DNKN stock closed at $47.30 a share on Wednesday.
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