Metro raises dividend, reports first-quarter profit and sales up from year ago News Staff

MONTREAL — Metro Inc. raised its quarterly dividend as it reported its first-quarter profit and sales climbed compared with a year ago.

The company, which includes the Metro grocery store chain and Jean Coutu drugstores, says it will pay a quarterly dividend of 25 cents per share, up from 22.5 cents.

The increased payment to shareholders came as the company reported a profit of $191.2 million or 76 cents per diluted share for its first quarter, up from a profit of $170.2 million or 67 cents per diluted share in the same quarter a year earlier.

Sales for the 12-week period ended Dec. 19 totalled $4.28 billion, up from $4.03 billion a year earlier.

The company says food same-store sales were up 10.0 per cent, while pharmacy same-store sales were up 1.3 per cent.

On an adjusted basis, Metro says it earned 79 cents per share for the quarter, up from an adjusted profit of 71 cents per share a year ago.

This report by The Canadian Press was first published Jan. 26, 2021.

Companies in this story: (TSX:MRU)

The Canadian Press

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