TORONTO – George Weston Ltd. raised its quarterly dividend because it reported its first-quarter revenue fell in contrast with 12 months in the past because it was hit by one-time expenses associated to its massive stake in Alternative Properties Actual Property Funding Belief.
The corporate, which additionally holds a majority curiosity in Loblaw Cos. Ltd., says it would now pay a quarterly dividend of 82 cents per share, up from 71.3 cents per share.
The elevated fee to shareholders got here as George Weston says its revenue attributable to frequent shareholders totalled $236 million or $1.73 per diluted share for the quarter ended March 23.
The consequence was down from a revenue of $426 million or $3.01 per diluted share in the identical quarter final 12 months.
Income for the quarter totalled $13.74 billion, up from $13.13 billion a 12 months earlier.
On an adjusted foundation, George Weston says it earned $2.30 per diluted share, up from an $1.99 per diluted share in the identical quarter final 12 months.
This report by The Canadian Press was first printed Could 7, 2024.
Firms on this story: (TSX:WN. TSX:L, TSX:CHP.UN)
