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Wednesday, July 17, 2024

Metro boosts dividend as low cost gross sales rise Categorical Occasions

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Metro Inc. boosted its quarterly dividend by 10.7 per cent because it reported a rise in gross sales for the primary quarter of fiscal 2024.

For the three month interval ended Dec. 23, the Quebec grocery large reported $4.97 billion in gross sales — a 6.5 per cent enhance from the prior 12 months.

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“Our low cost meals shops proceed to develop their gross sales at a quicker tempo, non-public label penetration reached new heights and our MOI loyalty program now has 2.5 million members, double the dimensions of Metro&Moi,” chief government Eric La Flèche stated in a press launch.

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The corporate’s internet earnings have been little modified at $228.5 million within the first quarter, down 1.1 per cent from 2023. Adjusted internet earnings have been $235 million, down 1.1 per cent.

Diluted internet earnings have been up 2.1 per cent to $0.99 per share, whereas adjusted totally diluted internet earnings have been $1.02 per share, up two per cent.

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The corporate declared a quarterly dividend of $0.3350 per share, a rise of 10.7 per cent from final 12 months’s quarterly dividend.

The corporate will maintain its annual basic assembly of shareholders at 10 a.m. on Tuesday, adopted by its first-quarter earnings name at 1:30 p.m.

• Electronic mail: dpaglinawan@postmedia.com

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