The grocery and drug store retailer says it will now pay a quarterly dividend of 33.5 cents per share, up from 31.5 cents per share.
The increased payment came as Loblaw reported a profit attributable to common shareholders of $342 million or 96 cents per diluted share for the quarter ended Oct. 3, up from $331 million or 90 cents per diluted share in the same quarter last year.Revenue for what was a 16-week period totalled $15.67 billion, up from nearly $14.66 billion in the same quarter a year earlier. Food retail same-store sales gained 6.9 per cent in the quarter, while drug retail same-store sales climbed 6.1 per cent.
On an adjusted basis, Loblaw says it earned $464 million or $1.30 per diluted share, up from an adjusted profit of $458 million or $1.25 per diluted share a year ago. Analysts on average had expected an adjusted profit of $1.26 per share and $15.6 billion in revenue, according financial data firm Refinitiv.
But yet they can’t pay their employees an affordable wage
Sure... that's what happens when you shut down small businesses and keep BIG businesses open. Idiots...
Real nice of Trudeau to give them free fridges, looks like they needed the govt largesse. Must be nice to be a recipient of the the liberal free money, when real needs go unadresssed. Liberal hypocrisy at work
Lol and they told the government we have to end the excessive cerb xtra pay because we’re losing money. The Weston family is heartless..