11:29:44 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 253,626,006
Close 2020-01-28 C$ 54.10
Market Cap C$ 13,721,166,925
Recent Sedar Documents

Globe says Metro boosts dividend despite falling profit

2020-01-29 08:10 ET - In the News

The Globe and Mail reports in its Wednesday, Jan. 29, edition that a financial boost from the acquisition of Jean Coutu has led Metro to raise its payment to shareholders. The Globe's Susan Krashinsky Robertson writes that Metro said its annual payout target range will increase, from 20 per cent to 30 per cent of the prior year's earnings, to 30 per cent to 40 per cent. It will pay a quarterly dividend of 22.5 cents a share, up 12.5 per cent from the previous year. On Tuesday the company reported a drop in its fiscal 2020 first quarter profit and nearly flat sales. The Montreal-based grocery chain operator reported $4-billion in sales in the three months ended Dec. 21, 2019, up 1.3 per cent compared with the same period in the prior year. Metro's net earnings fell 16.2 per cent to $170.2-million or 67 cents a share, compared with $203.1-million or 79 cents the year before. Metro said its earnings were affected by a loss on the sale of its meal-kit service MissFresh, as well as gains on the sale of its interest in data centre firm Colo-D and on the sale of five pharmacies. Not including those factors, Metro said its adjusted net earnings would have been $180.9-million. Metro sold MissFresh in December.

© 2024 Canjex Publishing Ltd. All rights reserved.