06:21 AM EST, 03/05/2024 (MT Newswires) -- Wajax Corp. ( WJXFF ) , one of Canada's longest-standing and most diversified industrial products and services providers, trading shy of 52-week highs, overnight Monday reported fourth-quarter adjusted net earnings of $17.8 million, or $0.83 per basic share, consistent with $17.8 million, or $0.83 per basic share, a year earlier.

Analysts polled by Capital IQ expected $0.86.

Revenue for the quarter ended Dec. 31, 2023, was $542.6 million, up from $541.3 million a year earlier.

Analysts surveyed by Capital IQ expected $543.7 million.

Adjusted EBITDA for Q4 was $47.2 million versus $42.3 million a year earlier.

Wajax ( WJXFF ) board has approved a 6% increase in the company's quarterly dividend. The company has declared a dividend of $0.35 per share for the first quarter. The dividend will be paid on April 2 to shareholders of record on March 15.

For 2024, the company plans to focus on building a "people first" company; growing Wajax's ( WJXFF ) existing business with a focus on parts, service, and margin improvement; unlocking the potential of Wajax's ( WJXFF ) enhanced direct relationship with Hitachi; buying industrial parts and ERS businesses; improving cost structure and processes; and continuing Wajax's ( WJXFF ) enterprise resource planning system rollout and additional technology improvements.