Keurig Green Mountain Shares Soar 19% On Robust Earnings, Dividend Hike

Shares of Keurig Green Mountain Inc. surged in Wednesday's extended session after the single-serve coffee company posted quarterly earnings that beat Wall Street's expectations and raised its dividend. Keurig reported its fourth-quarter earnings fell to $94.6 million, or 61 cents a share, from $141.1 million, or 86 cents a share, a year ago. On an adjusted basis, the coffee company would have earned 85 cents a share. Revenue slid 13% to $1.04 billion. Analysts surveyed by FactSet had forecast earnings of 70 cents a share on revenue of $1.03 billion. Keurig also raised its dividend to 32.5 cents a share, and projected fiscal 2016 adjusted earnings per share of $3.25 to $3.45. Shares of Keurig shares jumped 19% in after-hours trading.