Canada’s TMX Group (X), which operates the Toronto Stock Exchange, has reported fourth quarter net income of $102.2 million, up 16% from $87.9 million a year ago.
The Toronto-based company also reported that its Q4 revenue was $274.1 million, up 9% from $252.4 million a year earlier.
TMX Group announced an increase to its quarterly dividend of 5% to $0.87 per share following the strong quarterly results.
For all of last year, TMX Group reported revenue of $1.12 billion, up 14% from $980.7 million in 2021. Earnings for 2022 came in at $542.7 million, up 60% from $338.5 million in the previous year.
The company attributed much of its earnings increase to lower tax expenses.
TMX Group’s stock has increased 7% over the last year to $131.17 per share.
