Metro Inc. Announces Earnings Results for First Quarter Ended December 17, 2016; Declares Quarterly Dividend for the First Quarter Ended December 17, 2016, Payable March 13, 2017
January 24, 2017 at 07:00 am
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Metro Inc. announced earnings results for first quarter ended December 17, 2016. For the quarter, the company reported Sales of $2,971.3 million against sales of $2,961.6 million a year ago. Operating income before depreciation and amortization and associate's earnings was $216.8 million against operating income before depreciation and amortization and associate's earnings of $210.3 million a year ago. Net earnings were $138.1 million against $139.8 million a year ago. Diluted earnings per share were $0.58 against $0.56 a year ago. Capex investments totaled approximately $84 million.
On January 23, 2017, the corporation's board of directors declared a quarterly dividend of $0.1625 per common share payable March 13, 2017, an increase of 16.1% over the dividend declared for the same quarter last year.
Metro Inc. is a food and pharmacy retailers and distributors company. The Company, through its activities as a retailer, franchisor or distributor, and manufacturer operates or supplies a network of supermarkets, discount stores and drugstores. It operates 975 food stores under several banners, including Metro, Metro Plus, Super C and Food Basics, as well as 645 drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners. The Metro banner, with its 328 stores including 120 Metro Plus stores in Quebec is a supermarket chain. The Super C banner operates 102 discount stores in Quebec and offers a range of grocery products. Food Basics is a discount store providing quality products to customers in 143 locations across Ontario. The Food Basics Pharmacy banner is located in 30 Food Basics grocery stores. Its Food Basics Pharmacy is a full-service pharmacy and offers professional services, such as health reminders and medical profiles, among others.
Metro Inc. Announces Earnings Results for First Quarter Ended December 17, 2016; Declares Quarterly Dividend for the First Quarter Ended December 17, 2016, Payable March 13, 2017