11:57 AM EST, 02/25/2025 (MT Newswires) -- (Updates shares.)

Stantec ( STN ) traded 9.2% higher at last look Tuesday on the TSX as the company increased its dividend following a fourth-quarter adjusted earnings beat.

The company will pay a dividend of $0.225 per share, a 7.1% increase, on April 15 to shareholders of record on March 28.

The sustainable design and engineering company reported an adjusted profit of $126.2 million, or $1.11 per share, exceeding the FactSet analyst consensus forecast of $0.99 per share and rising from $91.4 million, or $0.82 per share, booked in the previous year.

Revenue increased 19% to $1.5 billion, driven by 9.3% organic growth and 7.6% acquisition growth. Stantec ( STN ) said it achieved organic growth in all of its regional and business operating units. Stantec ( STN ) also posted an all-time record contract backlog of $7.8 billion as of the end of 2024, a 24.1% increase.

"Our strong 2024 results put us well on track to deliver on our Strategic Plan objectives," President and CEO Gord Johnston said. "We continue to thrive in a resilient industry influenced by macro factors including water security, aging infrastructure, climate change, future technologies and an expansion in advanced manufacturing."

Stantec ( STN ) set targets as part of its 2025 outlook including net revenue growth of 7% to 10% and adjusted EPS growth of 16% to 19%.

"By maintaining our strong focus on project execution and addressing our clients' most pressing challenges, we anticipate another year of exceptional performance for Stantec ( STN ) in 2025, driven by continued margin expansion and earnings growth," Johnston said.

The company's shares were last seen up $10.03 to $118.98 on the Toronto Stock Exchange.

Price: 119.18, Change: +10.17, Percent Change: +9.33