BRAMPTON, Ont. — Grocery and drugstore retailer Loblaw Cos. Ltd. raised its quarterly dividend by 15 per cent as it reported its first-quarter profit and revenue rose compared with a year ago.
The increased payment to shareholders came as Loblaw says it earned a profit available to common shareholders of $459 million or $1.47 per diluted share for the quarter ended March 23. The result was up from $418 million or $1.29 per diluted share in the same quarter last year.Food retail same-stores sales rose by 3.4 per cent, while drug retail same-store sales increased by 4.0 per cent, with front store same-store sales up 0.
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