Mobile equipment accounted for about 55 percent of second-quarter revenue and roughly the same portion of earnings. Power systems were 21 percent of sales and 23 percent of earnings, while industrial components were 24 percent and 22 percent, respectively.

The company has operations across Canada, though the energy sector in the western part of the country has recently driven growth.

Equipment sales in the second quarter, for example, rose 29 percent, as demand was heavy in the construction and mining sectors. That was partly offset by lower sales of power systems to Western Canada’s oil and gas sector.

The bottom line was a 12 percent boost in quarterly earnings, fueled by 16 percent higher revenue. That was good enough to cover Wajax’ monthly dividend comfortably with a 73 percent payout ratio, backing up the 35 percent dividend increase announced back in March.

Wajax, a new Aggressive Holding, is a buy under USD45.