TORONTO (Reuters) - Electronic publishing company Thomson TOC.TOTOC.N reported an 11-percent jump in fourth-quarter profit on Thursday and boosted its dividend by 10 percent as it readies for the takeover of Reuters Group RTR.LRTRSY.O.
Thomson, which is buying financial news and data provider Reuters, said it earned $434 million (223 million pounds), or 67 cents a share, for the period, up from $391 million, or 61 cents a share, for the same time in 2006.
Revenue rose 10 percent to $2.03 billion in the period ended December 31.
Adjusted to exclude nonrecurring items, discontinued operations, and other items affecting comparability, the company earned 60 cents per share from continuing operations, up from 50 cents per share the previous year.
Analysts were expecting Thomson to earn 57 cents per share before one-time items on revenue of $2.01 billion.
Thomson said it continues to expect the 8.2 billion-pound Reuters takeover will close early in the second quarter. It expects U.S., Canadian and European regulatory approval in the next few weeks.
The company said its board approved an annual 2008 dividend of $1.08 per share, and a quarterly dividend of 27 cents per share payable in March.
Stamford, Conn.-based Thomson provides data, software and other applications in a variety of fields including law, tax, financial services and health care. More than 80 percent of its revenue came from electronic, software and services in the quarter.
(Reporters and editors involved in writing and editing this report may own Reuters securities and are bound by the Reuters Code of Conduct, which restricts dealing in securities in companies a journalist is reporting on)
Reporting by Jonathan Spicer and Scott Anderson; editing by Janet Guttsman