Loblaw Companies reports $418M Q1 profit, raises quarterly dividend

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 99%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Loblaw Companies Ltd. raised its dividend 10 per cent as it reported a profit available to common shareholders of $418 million for its first quarter.

The parent company of Loblaws and Shoppers Drug Mart says it will now pay a quarterly dividend of 44.6 cents per share, up from 40.5 cents per share.The increase for shareholders came as Loblaw reported its profit amounted to $1.29 per diluted share for the quarter ended March 25, down from $437 million or $1.30 per diluted share in the same quarter last year when the company saw a one-time gain from a favourable court ruling.

Revenue for the 12-week period totalled nearly $13 billion, up from nearly $12.3 billion a year earlier. Food retail same-stores sales were up 3.1 per cent, while drug retail same-store sales increased by 7.4 per cent. On adjusted basis, Loblaw says it earned $1.55 per diluted share in its latest quarter, up from an adjusted profit of $1.36 per diluted share a year ago.

Analysts on average had expected an adjusted profit of $1.55 per share and $13.2 billion in revenue, according to estimates compiled by financial markets data firm Refinitiv.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Loblaw Companies reports $418M Q1 profit, raises quarterly dividend 10%Revenue for the 12\u002Dweek period totalled nearly $13 billion, up from nearly $12.3 billion a year earlier
Source: TheTorontoSun - 🏆 23. / 68 Read more »

Trudeau warns companies not to expect same handout as VWThe Prime Minister said the $13\u002Dbillion federal and provincial incentive offered to VW was less than that offered by U.S. states
Source: TheTorontoSun - 🏆 23. / 68 Read more »