09:45 AM EST - Loblaw Companies Ltd. : announced that its first quarter net earnings increased 73 per cent, to $109 million from $63 million in the first quarter of 2008. Basic net earnings per common share for the first quarter increased 73.9 per cent to $0.40 from $0.23 in the first quarter of 2008. Sales for the first quarter increased by 2.9 per cent to $6.718 billion, from $6.527 billion in the first quarter of 2008. The company reported first quarter same-store sales growth of 2.1 per cent. Operating income was $226 million for the first quarter of 2009 compared to $156 million in the same period of 2008, an increase of 44.9 per cent. The Company's Board declared a dividend of $0.21 per common share with a payment date of April 1, 2009 and $0.37 per second preferred share Series A with a payment date of April 30, 2009. Subsequent to quarter end, the Board declared a quarterly dividend of $0.21 per common share payable on July 1, 2009 and a quarterly dividend of $0.37 per second preferred share Series A payable July 31, 2009. Loblaw Companies Ltd.
shares T.L are trading up $1.50 at $34.33.
