May 10, 2016 / 10:32 AM / 2 years ago

BRIEF-George Weston posts Q1 earnings of $0.29/share

May 10 (Reuters) - George Weston Ltd :

* George Weston Limited reports 2016 first quarter results and announces a 3.5% increase to quarterly common share dividend

* Q1 earnings per share $0.29

* Q1 adjusted earnings per share $1.31

* Q1 sales $ 10.80 billion versus $10.41 billion

* Q1 earnings per share view c$1.29, revenue view c$10.80 billion -- Thomson Reuters I/B/E/S

* Announces $0.44 per common share dividend declared

* George Weston Ltd sees sales growth generated by new capacity and productivity improvements to drive an increase in adjusted EBITDA in 2016

* Expects to make capital investments of approximately $300 million in 2016.

* Increase in adjusted EBITDA expected to be greater in second half of year as new plant capacity and capability come on-line

* In 2016, Loblaw expects to deliver positive same-store sales and stable gross margin in its retail segment

* In 2016, Loblaw expects to grow adjusted net earnings; invest approximately $1.3 billion in capital expenditures

* For 2016, company expects growth in net earnings to be driven by an increase in net earnings at Loblaw Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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