MOLSON COORS CANADA INC. $64 - Toronto symbol TPX.B

MOLSON COORS CANADA INC. $64 (www.molsoncoors.com) reported that its earnings rose 2.3% in 2013, to $727.1 million from $710.5 million in 2012 (all amounts expect share price in U.S. dollars). Due to more shares outstanding, earnings per share gained 1.0%, to $3.95 from $3.91. The company is doing a good job of cutting costs following its $3.4-billion purchase of StarBev, which owns nine breweries in central and eastern Europe, in June 2012. Lower expenses at StarBev and its existing breweries cut Molson Coors’ costs by $113 million in 2013. The company has also raised its dividend by 15.6%. The new annual rate of $1.48 a share yields 2.6%. Buy.

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