05:11 PM EDT, 03/13/2024 (MT Newswires) -- Enghouse Systems ( EGHSF ) on Wednesday said its fiscal first-quarter profit rose 6.5% on higher sales as it boosted its dividend by 18%..

The software company said its net income rose to C$18.13 million, or C$0.33 per share, in the quarter ended Jan.31, up from C$17.02 million, or C$0.31, in the year-prior period.

Revenue rose 13% to C$120.49 million from C$106.44 million.

"As the software markets continues its transitions towards SaaS (software as a service) offerings, we are generating an increasing proportion of recurring revenue streams within our overall revenue model, which now represents 70.2% of our total revenue in the first quarter of 2024. Our operational expenditure has declined as a percentage of revenue, consistent with our objective of generating operational efficiencies despite the inflationary pressure on operating costs," the company noted.

Enghouse ( EGHSF ) raised its quarterly dividend to C$0.26 per share from C$0.22, with the first higher payout made on May 31 to shareholder of record on May 17.

The company's shares closed up C$0.01 to C$34.69 on the Toronto Stock Exchange.