George Weston raises dividend as profit falls

Tue Nov 20, 2012 8:17am EST
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(Reuters) - George Weston Ltd WN.TO, the Canadian food producer and distributor that owns a majority of the Loblaw Cos Ltd (L.TO: Quote) grocery chain, boosted its dividend on Tuesday even as its quarterly profit dropped.

Net earnings for the quarter ended October 6 fell to C$243 million ($244 million), or C$1.07 a diluted share, from C$351 million, or C$1.93, a year earlier.

Revenue slipped 1.0 percent to C$10.16 billion.

($1 = $1.00 Canadian)