Alain Bedard reviewed 2016 Q4 results. “2016 saw TFI share price appreciate significantly. We raised our quarterly dividend by 12% and we made the best use of our free cash flow throughout the year by repurchasing approximately 7% of our share and also reimbursing debt.
Total revenue before fuel surcharge from continued operation in 2016 reached CAD3.7 billion compared to CAD3.6 billion in the prior year. Adjusted net income from continuing operation was CAD195 million or CAD2.04 per diluted shares, up from CAD186 million or CAD1.82 per diluted shares realized last year.
Free cash flow from continuing operation was CAD288 million in 2016 or CAD3.08 per share. With this robust free cash flow, we repurchased 6.5 million common shares for a total consideration of CAD151 million and issued dividend payment totally CAD64 million. I’ll now turn to the fourth quarter results. I’m pleased to report improvement year over year in most of TFI’s business segment.”
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