Sobeys and Farm Boy parent company Empire reports Q4 profit up from a year ago, raises dividend

The Canadian grocery giant on Thursday says its profit for the 13-week period ended May 6 increased to $182.9 million, or 72 cents per share, up from a profit of $178.5 million or 68 cents per share a year earlier.

Empire – also the parent company of Farm Boy, Safeway and FreshCo – says it will now pay a quarterly dividend of 18.25 cents per share, up from 16.5 cents per share.38 per cent in March, thanks partly to a massive cyberattack late last year, and partly to customers seeking bargains amid high inflation.

After initially estimating the cost of the attack — which it referred to as a “cyber event” — at just over $25 million, Empire said the net cost will now be $32 million.by 18 per cent over the past two years, piling on to Canadians’ grocery bills, and as of April, food prices were still 8.3 per cent higher than a year ago, according at a recent RBC report.

Earlier this year, grocery chain CEOs, including Empire’s Michael Medline, Loblaw boss Galen G. Weston and Metro’s Eric La Flèche, were

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