Bird Construction Inc. Announces Board Changes; Approves Regular Cash Dividends for the Months of December 2014, January and February 2015, Payable on January 20, 2015, February 20, 2015 and March 20, 2015, Respectively; Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
November 06, 2014 at 11:01 pm
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Bird Construction Inc. announced the appointment of Mr. Ian Boyd to its Board of Directors effective January 1, 2015. This coincides with the previously announced appointment of Mr. Boyd to the position of President and CEO following the retirement Mr. Talbott.
The company also announced that its Board of Directors has approved regular cash dividends for the months of December 2014, January and February 2015, in the amount of $0.0633 per common share for each month to be paid as follows; The December dividend of $0.0633 per share will be paid on January 20, 2015 to the Shareholders of record as of the close of business on December 31, 2014. The January dividend of $0.0633 per share will be paid on February 20, 2015 to the Shareholders of record as of the close of business on January 30, 2015. The February dividend of $0.0633 per share will be paid on March 20, 2015 to the Shareholders of record as of the close of business on February 27, 2015.
The company reported earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income and comprehensive income of $12,425,000 or $0.29 per basic and diluted earnings per share compared with $3,624,000 or $0.09 basic and diluted earnings per share a year ago. Construction revenue was $370,382,000 compared with $367,268,000 a year ago.
For the nine months, the company reported net income and comprehensive income of $23,355,000 or $0.55 basic and diluted earnings per share compared with $6,382,000 or 0.15 basic and diluted earnings per share a year ago. Construction revenue was $973,891,000 compared with $967,997,000 a year ago. The increase in 2014 net income is a result of higher gross profit primarily resulting from a shift in the company's work program to higher margin industrial work combined with the adverse impact of a project loss recorded in 2013 which negatively affected net income in that period.
Bird Construction Inc. is a Canadian construction company. The Company operates from coast-to-coast and serves various Canadian markets. The Company provides a comprehensive range of construction services from new construction for industrial, infrastructure and institutional markets; to industrial maintenance, repair and operations services, heavy civil construction, and mine support services; as well as vertical infrastructure, including electrical, mechanical, and specialty trades. The Company uses a variety of contract delivery methods, including construction management, cost plus, integrated project delivery (IPD), progressive design build, stipulated sum, unit price, standard specification design-build, alternative finance projects, complex design-build and public private partnership (PPP) contract delivery methods.
Bird Construction Inc. Announces Board Changes; Approves Regular Cash Dividends for the Months of December 2014, January and February 2015, Payable on January 20, 2015, February 20, 2015 and March 20, 2015, Respectively; Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014