(Stellarton) Food giant Empire reported Thursday that its profit fell in the fourth quarter compared to the same period last year, but increased its quarterly dividend.
The parent company of grocery chains IGA, Sobeys and Safeway says it will now pay a quarterly dividend of 20 cents per share, up from 18.25 cents per share.
The increased payout to shareholders comes as the Nova Scotia company reported a profit of $148.9 million, or 61 cents per share, for its quarter that ended May 4.
That was down from a profit of 182.9 million, or 72 cents per share, a year earlier.
Sales for the quarter totaled 7.4 billion, about the same as a year ago.
Same-store sales decreased 0.3% from the same quarter last year, while same-store sales, excluding fuel sales, increased 0.2%.
On an adjusted basis, Empire says it earned 63 cents per share, down from adjusted earnings of 72 cents per diluted share a year ago.