February 08, 2013 at 08:17 AM EST
Hasbro Q4 Profits Drop 6% on Lower Revenue; Raises Dividend 11% (HAS)

After the bell on Thursday, toymaker Hasbro, Inc. (HAS) reported that its fourth quarter profits fell as weak holiday demand drove down revenues. The company also declared an increase to its next quarterly dividend payout.

The Pawtucket, Rhode Island-based company posted a fourth quarter profit of $130.3 million, or 99 cents per share, down from $139.1 million, or $1.06 per share, earned in the year ago period.

Excluding one-time charges related to a cost-savings program, the company made $157.4 million, or $1.20 per share. According to Thomson Reuters, analysts were expecting the company to earn an adjusted $1.19 per share in the fourth quarter.

Revenue for the company slipped to $1.28 billion in the quarter from $1.33 billion a year earlier. The consensus analyst view was that HAS would post a revenue of $1.28 billion.

Hasbro, the parent of Parker Brothers, Milton Bradley, and Nerf, among others, said that the weaker-than-expected holiday demand is the reason revenue failed to surpass expectations. Toymakers are facing struggles in developed markets as mobile devices and other electronics shift the focus away from traditional toys and the economy recovers at a snails’ pace.

The company also declared an 11% rise to its quarterly dividend, from 36 cents per share to 40 cents per share. The new dividend will be paid on May 15 with an ex-dividend date of April 29.

Hasbro shares were mostly flat during pre-market trading on Friday. The stock is up about +8% over the past twelve months.

The Bottom Line
Shares of Hasbro (HAS) have a dividend yield of 4.13% based on last night’s closing price of $38.72 and the company’s update annualized dividend payout of $1.60 per share.

Hasbro, Inc. (HAS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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