UPDATE: Gildan Posts 84% Surge In Q4 Profit, Lifts Dividend

Gildan Activewear (NYSE: GIL) reported an 84% surge in its fourth-quarter profit and lifted its quarterly dividend by 20%.

Gildan's quarterly net income climbed to $89 million, or $0.73 per share, versus $48.5 million, or $0.40 per share, in the year-ago period.

Its net sales surged 17% to $561.7 million. Gildan also increased its quarterly dividend to $0.09 per share.

Gildan shares closed at $33.36 yesterday.

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