Shares of

(NASDAQ:

) jumped over 19 percent in after-hours trading after the company reported upbeat results for its fiscal fourth quarter and lifted its dividend. The Waterbury, Vermont-based company posted quarterly net income of $94.6 million, or $0.61 per share, compared to $141.1 million, or $0.86 per share, in the year-earlier quarter. On an adjusted basis, the company's adjusted earnings came in at $0.85 per share. Its revenue slipped 13 percent to $1.04 billion. However, analysts were expecting a profit of $0.71 per share on revenue of $1.03 billion. The average estimate among 121 Estimize users was for earnings of $0.71 per share and revenue of $1.03 billion. Its gross margin shrank 530 basis points year-over-year to 32.3 percent of net sales. Keurig also lifted its dividend from $0.2875 per share to $0.325 per share. "Our results for the quarter and the year reflect the competitive and dynamic marketplace in which we operate as well as the steps we are taking to position our Company for longer-term growth and value creation," said Brian Kelley, Keurig's President and CEO. "I'm particularly pleased with the benefits realized from our cost reduction efforts as well as our strong cash generation, both of which exceeded expectations in the fourth quarter. While we expect marketplace conditions will remain challenging in the near term, we have a stronger product line-up and price positioning as we enter the new holiday season." For fiscal 2016, the company projects adjusted earnings of $3.25 to $3.45 per share, versus analysts' estimates of $3.47 per share. Keurig shares climbed 19.33 percent to $48.33 in the after-hours trading session.