UPDATE: Staples Posts Upbeat Q4 Adjusted Profit, Lifts Dividend

Staples

reported a fall in its fiscal-fourth-quarter net profit and raised its quarterly dividend by 9%. Staples' quarterly earnings dropped to $78.1 million, or $0.12 per share, from $283.6 million, or $0.41 per share, in the year-ago period. Its adjusted earnings from continuing operations came in at $0.46 per share versus $0.41 per share. Its sales rose 3% to $6.57 billion from $6.37 billion. However, analysts were expecting a profit of $0.45 per share on sales of $6.71 billion. The company also declared a dividend of $0.12 per share, versus $0.11 per share. Staples shares closed at $13.29 yesterday.