TORONTO — George Weston Ltd. raised its quarterly dividend as it reported its first-quarter profit fell compared with a year ago, weighed down by a fair value adjustment as a result of an increase of Choice Properties Real Estate Investment Trust's unit price in the quarter.
The company, which is the controlling unitholder of Choice Properties and the controlling shareholder of Loblaw Cos. Ltd., says it will now pay a quarterly dividend of 89.38 cents per share, up from 82 cents.
The increased payment to shareholders came as George Weston says it earned a profit attributable to common shareholders of $83 million or 62 cents per diluted share for the quarter ended March 22.
The result compared with a profit of $236 million or $1.73 per diluted share in the same quarter last year.
On an adjusted basis, George Weston says it earned $2.58 per diluted share in its latest quarter, up from an adjusted profit of $2.30 per diluted share a year earlier.
Revenue totalled $14.29 billion, up from $13.74 billion in the same quarter last year.
This report by The Canadian Press was first published May 6, 2025.
Companies in this story: (TSX:WN, TSX:L, TSX:CHP.UN)
The Canadian Press
