UPDATE: Newell Rubbermaid Reports 30% Surge In Q1 Earnings, Raises Dividend

Newell Rubbermaid Inc NWL reported a 30% rise in its first-quarter earnings. The company also lifted its dividend by 60%. Newell Rubbermaid reported its Q1 profit at $75.7 million, or $0.25 per share, versus $58.4 million, or $0.19 per share, in the year-earlier period. Excluding restructuring costs, the company's earnings increased to $0.30 per share from $0.25 per share. The company's revenue dropped to $1.3 billion from $1.31 billion. However, analysts were expecting earnings of $0.28 per share on revenue of $1.33 billion. The company's gross margin increased to 37.7% from 36.1%. The company lifted its quarterly dividend from $0.05 to $0.08 per share. NWL shares gained 0.15% to close at $19.73 yesterday. Read more from Benzinga's Company news.