Loblaw Boosts Dividend Following Strong Q1 Sales Growth
Loblaw Cos. Ltd. raised its quarterly dividend by 10 per cent as it reported its first-quarter profit and revenue rose compared with a year ago.
The company behind Loblaws and Shoppers Drug Mart says it will now pay a quarterly dividend of 15.5183 cents per share, up from 14.1075 cents per share.
Loblaw reported a profit attributable to common shareholders of $594 million or 50 cents per diluted share for the 12-week period ended March 28, up from $503 million or 42 cents per diluted share a year earlier.
Revenue, including both its retail operations and the PC Financial business which is being sold to EQB Inc., totalled $14.72 billion, up from $14.14 billion in the first quarter of 2025.
The increase came as food retail same-store sales rose 2.4 per cent. Drug retail same-store sales gained 4.1 per cent as pharmacy and health-care services same-store sales gained 6.7 per cent and front store same-store sales rose 1.0 per cent.
On an adjusted basis, Loblaw says it earned 52 cents per diluted share in its latest quarter, up from an adjusted profit of 47 cents per diluted share in the first quarter of 2025.
This article was first reported by The Canadian Press
Companies in this story: (TSX:L)
The Canadian Press
