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

United States United States Latest News, United States United States Headlines

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

Sobeys parent Empire Company raises dividend, reports fourth-quarter profit up from year agoEmpire says it will now pay a quarterly dividend of 18.25 cents per share, up from 16.5 cents per share
Source: globeandmail - 🏆 5. / 92 Read more »

Empire Company reports Q4 profit up from year ago, raises dividend - BNN BloombergEmpire Company raised its quarterly dividend as it reported its fourth-quarter profit rose compared with a year ago.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Opinion: Queensway Farm smart, long-term investment for Prince GeorgeMaybe taxpayers would be better off thinking of this farm as something like investing in a museum.
Source: PGCitizen - 🏆 65. / 51 Read more »