Hasbro Beats On Profit, Raises Dividend

Hasbro Inc. said it had net income of $169.9 million, or $1.34 a share, in the fourth quarter, up from $129.8 million, or 98 cents a share, in the year-earlier period. Adjusted net earnings were $1.22 a share, above the FactSet consensus of $1.19. The toys and games maker said revenue rose 1% to $1.30 billion, below the FactSet consensus of $1.329 billion. The company said it is raising its quarterly dividend by 3 cents a share to 46 cents a share, with the first payment to be made on May 15 to shareholders of record as of the close of business May 1. The board has approved a $500 million buyback of its common stock. Shares were not yet active in premarket trade, but are down 3.9% in the last three months, while the S&P 500 has gained 1.2%.