News Column


January 28, 2014

MONTREAL - Metro Inc. (TSX:MRU) is raising its dividend and adjusting its dividend policy, the Montreal -based grocery company told investors at their annual meeting. Metro says its next dividend will increase to 30 cents per share, a 20 per cent increase from before. The company is also raising its dividend target by five percentage points to 25 per cent of net income from the previous year, excluding non-recurring items. The new dividend policy was revealed as Metro announced results from its fiscal first quarter, which ended Dec. 21 . Its net income fell from a year earlier, to $99.2 million or 1.06 cents per share. That compared with $117.3 million or $1.19 per share a year earlier, when discontinued operations contributing seven cents per share. ( The Canadian Press )

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Source: Canadian Press Broadcast Wire (Canada)

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