Its brands such as President’s Choice, Life Brand, and No Name are three of Canada’s top 10 consumer brands. Loblaw president Sarah Davis said the retailer's conventional grocery store division, comprised of brands such as Loblaws, Zehrs, Your Independent Grocer, Real Atlantic Superstore and Provigo, “continued with its 2020 winning streak” with same-store sales up 9.7 per cent. In fact, I have tried all of the investment services for dividend investors like a crash test dummy of investment services. L. Loblaw … The company raised its third-quarter dividend by two cents to 33.5 cents per share, up from 31.5 cents per share. #table_1 > tbody > tr.row-detail ul li.column-formula_1 span.columnValue:after Online sales in apparel, beauty and pharmacy businesses also saw an uptick as customers chose to shop online. Diversified offerings in grocery, pharmacy, health and beauty, apparel, and general merchandise have made Loblaw the undisputed leader in the retail business. Looking forward, Davis said the company was pleased with sales around Thanksgiving and Halloween, after the quarter's end. The quarterly dividend will increase to 24 cents per common share from 22 cents. Looking to the future, she said the company was happy with the sales leading up to Thanksgiving and … The increased dividend payment came as Loblaw reported a profit attributable to common shareholders of $342 million or 96 cents per diluted share for the quarter ended Oct. 3, up from $331 million or 90 cents per diluted share in the same quarter last year. The company is favorably placed to leverage its position as a leading Canadian retailer since grocery stores and pharmacy businesses are both highly defensive in nature. “At the height of the pandemic, there would have been the panic buying,” Davis said during a conference call with investors. The company is strengthening its foothold in its core retail segment through strong investments and divestitures in this direction. Its suite of products is also wide covering the entire value spectrum from discount to specialty. We use cookies to ensure that we give you the best experience on our website. Revenue for what was a 16-week period totalled $15.67 billion, up from nearly $14.66 billion in the same quarter a year earlier. Pharmacy sales also increased by 26% in the final two weeks. The grocery stores saw a rise in traffic with sales growth of ~44%. } Loblaw boosts dividend as competition reaches historic high . font-family: Tahoma, Geneva, sans-serif !important; Food retail is the larger business accounting for more than 70% of total retail revenues while drug retail constitutes the remaining 30%. Moreover, a reasonable payout ratio of 41% grants room for future expansion. Based on the stock's closing price Tuesday of $42.75, that would produce an annual yield of just under 2.25 per cent. The declaration and payment of quarterly dividends are made subject to approval by the Board of Directors. Loblaw benefitted from scaling its online capacity by enhancing technology. Loblaw shares, which closed Tuesday at $46.47 and yield 2.1 per cent, have gained 38 per cent since the REIT was announced in December. This dividend increase comes into effect with the dividend recorded on Jun 15, 2019. Yet some of the gains in the quarter were offset by roughly $85 million in costs related to COVID-19 and labour costs associated with e-commerce sales. The company will continue to optimize store operations and e-commerce, and advance business strategies for future growth and keeping in mind social distancing and other safety control norms. The company had kept the dividend steady for 6 consecutive quarters despite operating in one of the least impacted industries. .wpdt-c .wpDataTablesWrapper table.wpDataTable { Loblaw operates through Market, Discount, PC Financial, Joe Fresh, and Shoppers Drug Mart divisions. For a complete list of my holdings, please see my Dividend Portfolio. Loblaw Dividends. The company sports a dividend yield of 1.9% and has compounded its dividend growth at 4.9% CAGR over the last five years. Loblaw chief financial officer Darren Myers said while in-store traffic decreased, the “food retail basket size” remained high for the quarter. The heads of the three major grocery store chains were questioned in Ottawa earlier this fall about the decision to eliminate the so-called hero pay top-up — all on the same day.

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