George Weston raises dividend as profit falls

Tue Nov 20, 2012 8:14am EST
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Nov 20 (Reuters) - George Weston Ltd, the Canadian food producer and distributor that owns a majority of the Loblaw Cos Ltd grocery chain, boosted its dividend on Tuesday even as its quarterly profit dropped.

Net earnings for the quarter ended Oct. 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.