AIMIA INC. $14.01 - Toronto symbol AIM

AIMIA INC. $14.01 (Toronto symbol AIM; TSINetwork Rating: Extra Risk) (514-897-6800; www.aimia.com; Shares outstanding: 164.7 million; Market cap: $2.3 billion; Dividend yield: 5.4%) owns and operates Aeroplan, Canada’s largest loyalty program.

The company reports that its revenue rose 8.4% in the three months ended March 31, 2015, to $660.1 million from $608.9 million a year earlier.

Earnings fell to $30.7 million, or $0.15 a share, from $88.2 million, or $0.48. However, the year-ago quarter included a one-time payment of $73.4 million after TD Bank replaced CIBC as Aeroplan’s main credit card issuer on January 1, 2014.

The company raised its quarterly dividend by 5.6% with the June 2015 payment, to $0.19 from $0.18. It now yields a high 5.4%.

Aimia is still a buy.

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