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Premium Brands Holdings Corp. raised its dividend as it reported its fourth-quarter profit and revenue rose compared with a year ago.

The specialty food company increased its quarterly dividend to 63.5 cents per share, up from 57.75 cents per share.

The increased payment to shareholders came as Premium Brands reported a profit of $23.3 million or 57 cents per share for the 13-weeks ended Dec. 26, up from $16.2 million or 43 cents per share a year earlier.

Revenue totalled nearly $1.06 billion, up from $959.1 million.

On an adjusted basis, Premium Brands says it earned 86 cents per share for its latest quarter, up from an adjusted profit of 79 cents per share a year ago.

On average, analysts had expected an adjusted profit of 78 cents per share and nearly $1.06 billion in revenue, according to financial data firm Refinitiv.

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