05:57 PM EDT, 08/08/2024 (MT Newswires) -- Saputo ( SAPIF ) on Thursday reported higher adjusted profit and revenue in the first quarter.

The dairy and cheese products company said adjusted net earnings rose 8.4% to $167 million, or $0.39 per share, from $154 million or $0.36 per share.

Revenue of $4.6 billion, was 9.5% higher than the $4.2 billion booked last year. The company said the higher revenue was due to higher sales volumes across the board.

Saputo ( SAPIF ) announced a 2.7% dividend increase, to $0.19 per share, payable on September 20.

Shares closed $0.86 higher, to $31.56 on the Toronto Stock Exchange.