Sobeys and Safeway parent Empire Co. reports Q4 profit up, raises dividend
The grocery retailer, which operates Sobeys, Safeway and other banners, says it will now pay a quarterly dividend of 22 cents per share, up from 20 cents.
The increased payment to shareholders came as Empire says it earned a profit attributable to owners of the company of $173 million or 74 cents per diluted share for the quarter ended May 3. The result was up from a profit of $149 million or 61 cents per diluted share a year ago.
Sales for the quarter totalled $7.64 billion, up from $7.41 billion in the same quarter last year.
Same-store rose 3.0 per cent as same-store sales for fuel fell 7.8 per cent driven by lower prices due to the removal of the government carbon tax. Food same-store sales rose 3.8 per cent.
On an adjusted basis, Empire says it earned 74 cents per diluted share in its latest quarter, up from an adjusted profit of 63 cents per diluted share a year ago.
This report by The Canadian Press was first published June 19, 2025.
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