Norbord Q2 profit doubles

The Canadian Press

TORONTO–Norbord Inc. increased its dividend as it reported its second-quarter profit more than doubled compared with a year ago.
The maker of oriented strand board said it will pay 50 cents (Cdn.) per share under its variable dividend policy, up from a payment of 20 cents (Cdn.) in its last quarterly payment to shareholders.
Norbord said the increase was due to the strength in North American benchmark OSB prices this year and a positive market outlook.
The company, which keeps its books in U.S. dollars, reported a profit of $97 million, or $1.12 per diluted share.
That’s up from $44 million, or 51 cents per share, a year ago.
Revenue improved to $536 million, compared with $447 million in the same quarter last year.