Rocky Mountain Dealerships Inc. (TSX:RME, and hereinafter “RME“), Canada’s largest agriculture equipment dealer, today reported its financial results for the three and twelve months ended December 31, 2018. Unless otherwise stated, all amounts are expressed in Canadian dollars.
Garrett Ganden, President and Chief Executive Officer of RME, commented on the year’s results by stating, “The execution of our strategic plan helped RME deliver a strong 2018. In addition to record revenue and used equipment sales, we added two stores in the heartland of Saskatchewan, as well as another location in Alberta. We were able to return more capital to our shareholders by increasing our dividend by 6.5%. Since 2012, RME’s dividend has risen from $0.18 to $0.49 annually, an increase of more than 170%. In 2018 we implemented a Normal Course Issuer Bid that has, at present, resulted in our purchasing and cancelling 400,000 shares. We were also able to open our used equipment outlet in Kansas early in 2019, and have been encouraged with the initial activity within that store so far.”
“Canadian agriculture continues to be a steady business, with a stable base of customers that continue the demand for our products and services. With our strong sales culture, excellent cost structure and solid balance sheet, RME is ready to seize the opportunities that 2019 will bring.”