08:00 AM EST, 03/05/2024 (MT Newswires) -- Softchoice Corp. ( SFTCF ) , a software-focused IT solutions provider, that rose 2.3% yesterday, on Tuesday reported fourth-quarter adjusted earnings of US$18.5 million ($25.2 million), or US$0.31 per diluted share, down from US$19.5 million, or US$0.32 per diluted share, a year earlier.

Analysts polled by Capital IQ expected US$0.27.

Net sales for the quarter ended Dec. 31, 2023, were US$217.9 million, down from US$228.9 million a year earlier.

Analysts surveyed by Capital IQ expected US$218 million.

Adjusted EBITDA for Q4 was US$28.4 million, down from US$31.5 million a year ago.

The company's board declared a quarterly dividend of C$0.13 per common share from Jan. 1 to March 31. The dividend will be paid on April 12 to shareholders of record at the close of business on March 28, representing an increase of about 18% over the first quarter of 2023.

Additionally, the board also declared a special dividend of C$4 per common share to be paid on April 12 to shareholders of record at the close of business on March 28.

The board has approved the renewal of the NCIB upon expiry of the current NCIB for up to 2.5% of the issued and outstanding common shares.