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Ritchie Bros. hike dividend

Ritchie Bros. Auctioneers Inc. increased its quarterly dividend as it reported improved results for its second quarter. The auctioneer of industrial equipment said it would pay a quarterly dividend of 12.25 cents per share, up from 11.

Ritchie Bros. Auctioneers Inc. increased its quarterly dividend as it reported improved results for its second quarter. The auctioneer of industrial equipment said it would pay a quarterly dividend of 12.25 cents per share, up from 11.25 cents per share. The increase came as Ritchie Bros., which keeps its books in U.S. dollar, reported a quarterly profit of $31.3 million, 29 cents per share, for the quarter ended June 30, up from a profit of $26.8 million or 25 cents per share a year ago. Auction revenues grew 11 per cent to $127.2 million compared with $114.5 million for the same quarter in 2011.

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