(Montreal) Retailer Dollarama ended its 2023 fiscal year with operating income of $1.192 billion, up 21% from the previous year. Diluted net earnings per common share increased 26.6% from $2.18 to $2.76.

For the fourth quarter of 2023, Dollarama’s operating income rose 20.8% year-on-year to $381.4 million. Diluted net earnings per common share increased 23% year over year, from $0.74 to $0.91.

Comparable store sales growth was 12% for fiscal 2023 compared to the prior year. The sales of the Quebec retailer amounted to 5.05 billion.

Dollarama President and CEO Neil Rossy calls the performance in fiscal 2023 exceptional. In his opinion, the concept of low-cost consumer retail remains relevant.

Dollarama’s Board of Directors has approved a 28% increase in the quarterly cash dividend for common shareholders. It will be paid on May 5.

Company named in this dispatch: Dollarama (TSX: DOL)