Empire Company Limited (TSX: EMP.A) is a Stellarton, Canada-based company engaged in the business of food retailing and related real estate. The Company operates through two segments: Food Retailing and Investments and Other Operations.
Empire Company today reported its financial results for the fourth quarter of its fiscal 2016. The company also raised its annual dividend per share.
For the fourth quarter, Empire reported sales of $6.28 billion, up 8.9% on a year-over-year basis. The company’s EBITDA loss for the quarter was $1.047 billion, compared to positive EBITDA of $236.3 million reported for the same period in the previous year. Adjusted EBITDA for the quarter was $269.6 million, compared to $339.3 million reported for the same period in the previous year. The company’s adjusted net earnings for the quarter were $95.3 million, compared to $136.7 million reported for the same period in the previous year.
For the full fiscal year, Empire reported sales of $24.62 billion, up 2.9% over the previous fiscal year. The company’s adjusted net earnings for the full fiscal year were $410.2 million, compared to $511 million reported in the previous fiscal year.
Empire’s Board also announced an increase in the company’s annual dividend per share. The dividend has been raised from $0.40 per share to $0.41 per share, an increase of 2.5%. Prior to the dividend hike, Empire offered a yield of 2.14%.
