Loblaws is reporting better-than-expected earnings and revenue today (Wednesday, May 6, 2015) driven largely by its retail operations (food and pharmacy) and raised its dividend by about 2%. Revenue beat the C$9.45 billion analysts polled by Thomson Reuters were expecting. The company also bolstered its quarterly dividend payout to 25 Canadian cents a share from 24.5 Canadian cents. “Although the grocery industry remains highly competitive and health care reform continues to challenge our pharmacy business, we are maintaining stable business performance, gaining incremental efficiencies, delivering synergies on schedule, deleveraging the balance sheet and achieving continued earnings growth,” Executive Chairman Galen G. Weston said in a statement.
great news for a CANADIAN OWNED COMPANY….we should all support our owned and operated stores and shops first….