Metro Inc. reported a first-quarter profit of $228.5 million as its sales gained 6.5 per cent and raised its dividend. A Metro grocery store is seen Tuesday, January 31, 2012 in Montreal. THE CANADIAN PRESS/Paul Chiasson
MONTREAL – Metro Inc. reported a first-quarter profit of $228.5 million as its sales gained 6.5 per cent and raised its dividend.
The grocery and drugstore retailer says it will pay a quarterly dividend of 33.5 cents per share, up from 30.25 cents per share.
The increased payment to shareholders came as Metro says its profit amounted to 99 cents per diluted share for the quarter ended Dec. 23 compared with a profit of $231.1 million or 97 cents per diluted share a year earlier when the company had more shares outstanding.
Sales for the 12-week period totalled $4.97 billion, up from $4.67 billion in the same quarter a year earlier that ended on Dec. 17, 2022.
Food same-store sales were up 6.1 per cent, helped in part by the timing of the end of the quarter relative to Christmas. Adjusting for the Christmas week shift, Metro says food same-store sales were up 3.4 per cent. Pharmacy same-store sales were up 3.9 per cent.
On an adjusted basis, Metro says it earned $1.02 per diluted share, up from an adjusted profit of $1 per share a year earlier.
This report by The Canadian Press was first published Jan. 30, 2024.
Companies in this story: (TSX:MRU)
