- EBITDA for 2019 up 28.0% to $312.9 million
- Net income increased 18.5% to $163.1 million for the year
- Share repurchases of 1.8 million totaling $70.6 million in 2019
- Solid financial position with a long-term debt to EBITDA ratio of 1.9x
- Quarterly cash dividend increased 7.1% to $0.15 per share
MONTREAL, March 11, 2020 -- Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today announced financial results for its fourth quarter and fiscal year ended December 31, 2019.
“We concluded 2019 on a positive note with growth in both sales and profitability for the quarter and the full year. Sales were up 1.6% in the fourth quarter and 2.1% for the year to $2.2 billion, delivering the nineteenth consecutive year of growth. Higher sales drove improvement in EBITDA, which grew 28.0% to $312.9 million, yielding an EBITDA margin of 14.4% for 2019. During the year, we continued to foster a balanced capital allocation approach focused on growth and returns. We deployed our solid liquidity to invest in our network, acquire a key residential lumber facility and return capital to shareholders. In line with this strategy, today we are pleased to announce a dividend increase for the sixteenth consecutive year,” stated Éric Vachon, President and CEO of Stella-Jones. “Our solid financial position provides us the flexibility to continue to pursue our growth strategy and deliver further value to shareholders.”