James Hardie Industries plc
(ASX:JHX) has doubled it full year profit, hiked its dividend payout and issued a positive outlook.
The building products manufacturer posted a net profit of $US99.5 million in the year to the end of March 2014 from $US45.5 million over the prior year.
The result was boosted by 13 per cent growth in total sales across its key markets and improving housing markets in Australia and the US.
Looking ahead James Hardie says its outlook for the US market is encouraging and the company expects continued improvements.
A second half dividend of 32 US cents per share has been declared in addition to a special dividend of 20 US cents and an earlier announced 125-year anniversary dividend of 28 US cents per share.
James Hardie has also revealed it is planning to buyback another 5 per cent of shares over the following year, adding to the 5 per cent bought over the last year.
