07:30 AM EST, 02/19/2025 (MT Newswires) -- Gildan Activewear ( GIL ) on Wednesday increased its 2025 dividend by 10% as it reported a fourth-quarter adjusted earnings beat.

The company hiked the dividend to US$0.226 per share, payable April 7 to shareholders of record on March 12.

The increased dividend comes as Gildan booked adjusted net earnings of US$128.2 million, or US$0.83 per diluted share, exceeding the FactSet analyzed consensus estimate of US$0.81 per share. Gildan's adjusted earnings fell from US$129.2 million, or US$0.75 per share, recorded in the previous year.

Net sales increased 5% to a record US$821.5 million, above the FactSet forecast of US$804 million, while adjusted EBITDA grew 12.4% to US$208.4 million.

"By reinforcing our core competencies as a low-cost, large-scale, vertically integrated sustainable manufacturer, we continued to enhance our competitive advantage, and we are well positioned for continued growth in the years ahead," said Glenn Chamandy, Gildan's president and CEO.

For 2025, Gildan expects to post adjusted earnings of US$3.38 to US$3.58 per share, a 13%-19% increase from 2024. This compares to the FactSet estimate of US$3.47.

The company named Luca Barile, currently chief financial officer for sales, marketing and distribution, as group CFO.