Upcoming Dividend • Jun 08
Upcoming dividend of CA$0.32 per share Eligible shareholders must have bought the stock before 15 June 2026. Payment date: 01 July 2026. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Canadian dividend payers (5.4%). In line with average of industry peers (1.2%). Declared Dividend • May 18
First quarter dividend of CA$0.32 announced Shareholders will receive a dividend of CA$0.32. Ex-date: 15th June 2026 Payment date: 1st July 2026 Dividend yield will be 1.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 16
George Weston Limited announces Quarterly dividend, payable on July 01, 2026 George Weston Limited announced Quarterly dividend of CAD 0.3218 per share payable on July 01, 2026, ex-date on June 15, 2026 and record date on June 15, 2026. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: CA$0.26 (vs CA$0.21 in 1Q 2025) First quarter 2026 results: EPS: CA$0.26 (up from CA$0.21 in 1Q 2025). Revenue: CA$14.6b (up 2.5% from 1Q 2025). Net income: CA$109.0m (up 31% from 1Q 2025). Profit margin: 0.7% (up from 0.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Apr 15
George Weston Limited to Report Q1, 2026 Results on May 12, 2026 George Weston Limited announced that they will report Q1, 2026 results at 7:00 AM, US Eastern Standard Time on May 12, 2026 Declared Dividend • Mar 08
Fourth quarter dividend of CA$0.30 announced Shareholders will receive a dividend of CA$0.30. Ex-date: 13th March 2026 Payment date: 1st April 2026 Dividend yield will be 1.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 06
George Weston Limited announces Quarterly dividend, payable on April 01, 2026 George Weston Limited announced Quarterly dividend of CAD 0.2979 per share payable on April 01, 2026, ex-date on March 13, 2026 and record date on March 15, 2026. Reported Earnings • Mar 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CA$2.50 (down from CA$2.77 in FY 2024). Revenue: CA$64.5b (up 6.2% from FY 2024). Net income: CA$962.0m (down 13% from FY 2024). Profit margin: 1.5% (down from 1.8% in FY 2024). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 2.3% vs FY 2024 Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Feb 23
George Weston Limited, Annual General Meeting, May 12, 2026 George Weston Limited, Annual General Meeting, May 12, 2026. Location: ontario, hybrid meeting, toronto Canada Announcement • Feb 04
George Weston Limited to Report Q4, 2025 Results on Mar 04, 2026 George Weston Limited announced that they will report Q4, 2025 results at 7:00 AM, US Eastern Standard Time on Mar 04, 2026 Upcoming Dividend • Dec 08
Upcoming dividend of CA$0.30 per share Eligible shareholders must have bought the stock before 15 December 2025. Payment date: 01 January 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Canadian dividend payers (5.9%). In line with average of industry peers (1.2%). Declared Dividend • Nov 20
Third quarter dividend of CA$0.30 announced Shareholders will receive a dividend of CA$0.30. Ex-date: 15th December 2025 Payment date: 1st January 2026 Dividend yield will be 1.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 19
George Weston Limited announces Quarterly dividend, payable on January 01, 2026 George Weston Limited announced Quarterly dividend of CAD 0.2979 per share payable on January 01, 2026, ex-date on December 15, 2025 and record date on December 15, 2025. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: CA$1.24 (vs CA$0.038 in 3Q 2024) Third quarter 2025 results: EPS: CA$1.24 (up from CA$0.038 in 3Q 2024). Revenue: CA$19.5b (up 4.6% from 3Q 2024). Net income: CA$477.0m (up CA$462.0m from 3Q 2024). Profit margin: 2.4% (up from 0.1% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Oct 18
George Weston Limited to Report Q3, 2025 Results on Nov 14, 2025 George Weston Limited announced that they will report Q3, 2025 results at 7:00 AM, Eastern Standard Time on Nov 14, 2025 Announcement • Sep 12
Strosberg Wingfield Sasso LLP and Orr Taylor LLP Announce Commencement of Claims Process for $500 Million National Settlement Reaches with George Weston Limited and Loblaw Companies Limited Strosberg Wingfield Sasso LLP and Orr Taylor LLP announced the commencement of the claims process for the $500 million national settlement reached with George Weston Limited (Weston) and Loblaw Companies Limited (Loblaw) for their involvement in nationwide class action lawsuits related to alleged industry-wide price fixing of Packaged Bread sold in Canada between 2001 and 2021. The settlement agreement, approved by the applicable Courts, provides for a cash payment by Weston and Loblaw of $404 million (Loblaw having previously advanced $96 million through the earlier Loblaw Card Program). These settlement funds, less any court-approved expenses, are allocated 78% for settlement class members resident in Canada outside of Quebec and 22% for settlement class members resident in Quebec. Eligible Canadian residents who purchased Packaged Bread (including packaged bread products and bread alternatives, such as bagged bread, buns, rolls, bagels, naan bread, English muffins, wraps, pita and tortillas) for their personal use between January 1, 2001 and December 31, 2021, inclusive, must submit a completed claim form by December 12, 2025 to claim compensation from the settlement. Proof of purchase is not required. Individuals who previously received a $25 Loblaw card from the Loblaw Card Program may submit a claim for additional compensation, but they will only be paid an incremental amount above the value of the $25 Loblaw card they received if there are sufficient settlement funds available, and only if the incremental amount is more than the $5 minimum payment threshold set for the settlement. Settlement funds allocated for businesses or entities in Canada that purchased Packaged Bread for resale in the period 2001 to 2021, inclusive, are being held in Trust at this time and will be distributed as the Courts direct at a later date. The class actions continue against the remaining defendants, Canada Bread, Sobeys, Metro, Wal-Mart Canada and Giant Tiger. Upcoming Dividend • Sep 08
Upcoming dividend of CA$0.30 per share Eligible shareholders must have bought the stock before 15 September 2025. Payment date: 01 October 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Canadian dividend payers (5.8%). In line with average of industry peers (1.2%). New Risk • Aug 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risk High level of debt (110% net debt to equity). Declared Dividend • Aug 01
First quarter dividend of CA$0.89 announced Shareholders will receive a dividend of CA$0.89. Ex-date: 15th September 2025 Payment date: 1st October 2025 Dividend yield will be 1.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 31
George Weston Limited announces Quarterly dividend, payable on October 01, 2025 George Weston Limited announced Quarterly dividend of CAD 0.8938 per share payable on October 01, 2025, ex-date on September 15, 2025 and record date on September 15, 2025. Announcement • Jul 02
George Weston Limited to Report Q2, 2025 Results on Jul 29, 2025 George Weston Limited announced that they will report Q2, 2025 results at 7:00 AM, US Eastern Standard Time on Jul 29, 2025 Upcoming Dividend • Jun 06
Upcoming dividend of CA$0.89 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 01 July 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Canadian dividend payers (6.2%). In line with average of industry peers (1.2%). Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Marianne Harris was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • May 26
President & CFO exercised options and sold CA$1.6m worth of stock On the 22nd of May, Richard Dufresne exercised 10k options at a strike price of around CA$104 and sold these shares for an average price of CA$267 per share. This trade did not impact their existing holding. Since June 2024, Richard's direct individual holding has decreased from 32.71k shares to 12.80k. Company insiders have collectively sold CA$41m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • May 11
First quarter dividend of CA$0.89 announced Shareholders will receive a dividend of CA$0.89. Ex-date: 13th June 2025 Payment date: 1st July 2025 Dividend yield will be 1.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions Derivative • May 09
President & CFO exercised options and sold CA$3.3m worth of stock On the 6th of May, Richard Dufresne exercised 20k options at a strike price of around CA$104 and sold these shares for an average price of CA$268 per share. This trade did not impact their existing holding. Since June 2024, Richard's direct individual holding has decreased from 32.71k shares to 12.80k. Company insiders have collectively sold CA$32m more than they bought, via options and on-market transactions in the last 12 months. Announcement • May 09
George Weston Limited Declares Quarterly Cash Dividend on Common Shares Payable on July 1, 2025 Subsequent to the end of the first quarter of 2025, the Board of Directors of George Weston Limited declared a quarterly dividend of $0.8938 per share on
Common Shares payable July 1, 2025, to shareholders of record June 15, 2025. Price Target Changed • May 08
Price target increased by 11% to CA$275 Up from CA$249, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of CA$264. Stock is up 40% over the past year. The company is forecast to post earnings per share of CA$10.16 for next year compared to CA$9.95 last year. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: CA$0.64 (vs CA$1.76 in 1Q 2024) First quarter 2025 results: EPS: CA$0.64 (down from CA$1.76 in 1Q 2024). Revenue: CA$14.3b (up 4.0% from 1Q 2024). Net income: CA$93.0m (down 61% from 1Q 2024). Profit margin: 0.7% (down from 1.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Apr 08
George Weston Limited to Report Q1, 2025 Results on May 06, 2025 George Weston Limited announced that they will report Q1, 2025 results at 7:00 AM, Eastern Daylight on May 06, 2025 Recent Insider Transactions Derivative • Mar 27
President & CFO exercised options and sold CA$1.3m worth of stock On the 21st of March, Richard Dufresne exercised 10k options at a strike price of around CA$104 and sold these shares for an average price of CA$235 per share. This trade did not impact their existing holding. Since June 2024, Richard's direct individual holding has decreased from 32.71k shares to 12.80k. Company insiders have collectively sold CA$53m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Mar 26
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CA$12.23 to CA$10.16 per share. Revenue forecast steady at CA$65.3b. Net income forecast to shrink 0.7% next year vs 1.3% growth forecast for Consumer Retailing industry in Canada . Consensus price target broadly unchanged at CA$246. Share price rose 2.3% to CA$239 over the past week. Announcement • Mar 12
Renno & Vathilakis Inc. Announces Settlement Agreement with George Weston Limited and Loblaw Companies Limited Joey Zukran of LPC Avocats and Michael Vathilakis of Renno & Vathilakis Inc. announced that the $500 million settlement agreement with George Weston Limited (Weston) and Loblaw Companies Limited (Loblaw) to settle their involvement in nationwide class action lawsuits related to industry-wide price fixing for certain packaged bread products was executed by the parties on January 31, 2025. The settlement is subject to court approval in Ontario and Quebec. The Ontario Settlement Approval Hearing will take place in Toronto on May 5, 2025. The Quebec Settlement Approval Hearing will take place in Montreal on June 16, 2025. If the settlement is approved, it will resolve all claims against Loblaw and Weston relating to this matter and Loblaw, Weston and related companies will receive a full and final release on behalf of all individuals and businesses resident in Canada who purchased Packaged Bread for personal use or for resale from January 1, 2001 to December 31, 2021. The settlement provides for a cash payment by Weston and Loblaw of $404 million, with $96 million already paid by Loblaw through the previously announced Loblaw Card Program. The settlement funds, less court-approved expenses, will be allocated 78% for settlement class members resident in Canada outside Quebec and 22% for settlement class members resident in Quebec, and distributed for the benefit of eligible class members in accordance with a plan of distribution to be approved by the courts. The settlement also provides access to information that will be used in continuing the case against the remaining defendants Canada Bread, Sobeys, Metro, Wal-Mart Canada, and Giant Tiger. The proposed plan of distribution provides that individuals who purchased Packaged Bread for their personal use and not for resale may claim compensation against 99.5% of net settlement funds allocated for consumers through a claims process to be established. The amount of their compensation will depend on the number of approved claims. The courts will decide at a later time how the 0.5% of net settlement funds allocated for businesses and other purchasers of Packaged Bread for resale in the same or a modified form will be distributed. Recent Insider Transactions Derivative • Mar 10
Chairman & CEO exercised options and sold CA$7.3m worth of stock On the 5th of March, Galen Weston exercised 57k options at a strike price of around CA$105 and sold these shares for an average price of CA$231 per share. This trade did not impact their existing holding. For the year to December 2018, Galen's total compensation was 11% salary and 89% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Galen's direct individual holding has decreased from 922.42k shares to 516.48k. Company insiders have collectively sold CA$51m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Mar 03
President & CFO exercised options and sold CA$1.3m worth of stock On the 26th of February, Richard Dufresne exercised 10k options at a strike price of around CA$104 and sold these shares for an average price of CA$231 per share. This trade did not impact their existing holding. Since March 2024, Richard's direct individual holding has decreased from 22.57k shares to 12.71k. Company insiders have collectively sold CA$43m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Feb 28
Fourth quarter dividend of CA$0.82 announced Shareholders will receive a dividend of CA$0.82. Ex-date: 14th March 2025 Payment date: 1st April 2025 Dividend yield will be 1.4%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CA$9.95 (down from CA$10.88 in FY 2023). Revenue: CA$61.6b (up 2.5% from FY 2023). Net income: CA$1.36b (down 9.2% from FY 2023). Profit margin: 2.2% (down from 2.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 26
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.8% to CA$234. The fair value is estimated to be CA$193, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 3.8%. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 0.4% per annum over the same time period. Announcement • Feb 26
George Weston Limited Declares Fourth Quarter 2024 Dividend on Common Shares, Payable on April 1, 2025 George Weston Limited announced that subsequent to the end of the fourth quarter of 2024, the Company's Board of Directors declared a quarterly dividend on GWL Common Shares of $0.820 per share payable April 1, 2025, to shareholders of record March 15, 2025. Announcement • Feb 17
George Weston Limited, Annual General Meeting, May 06, 2025 George Weston Limited, Annual General Meeting, May 06, 2025. Location: ontario, toronto Canada Announcement • Jan 29
George Weston Limited to Report Q4, 2024 Results on Feb 26, 2025 George Weston Limited announced that they will report Q4, 2024 results at 7:00 AM, Eastern Standard Time on Feb 26, 2025 Buy Or Sell Opportunity • Jan 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.7% to CA$226. The fair value is estimated to be CA$188, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 5.4% per annum over the same time period. Buy Or Sell Opportunity • Dec 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.1% to CA$229. The fair value is estimated to be CA$189, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period. Recent Insider Transactions • Dec 10
President & CFO recently sold CA$2.2m worth of stock On the 2nd of December, Richard Dufresne sold around 10k shares on-market at roughly CA$225 per share. This transaction amounted to 44% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$8.4m. Richard has been a net seller over the last 12 months, reducing personal holdings by CA$7.5m. Upcoming Dividend • Dec 06
Upcoming dividend of CA$0.82 per share Eligible shareholders must have bought the stock before 13 December 2024. Payment date: 01 January 2025. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Canadian dividend payers (6.1%). Higher than average of industry peers (1.2%). Buy Or Sell Opportunity • Dec 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.9% to CA$227. The fair value is estimated to be CA$189, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period. Recent Insider Transactions Derivative • Dec 02
President & CFO exercised options and sold CA$1.2m worth of stock On the 27th of November, Richard Dufresne exercised 10k options at a strike price of around CA$104 and sold these shares for an average price of CA$220 per share. This trade did not impact their existing holding. Since December 2023, Richard's direct individual holding has increased from 22.47k shares to 22.71k. Company insiders have collectively sold CA$45m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 28
President & CFO recently sold CA$2.2m worth of stock On the 22nd of November, Richard Dufresne sold around 10k shares on-market at roughly CA$220 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$8.4m. Richard has been a net seller over the last 12 months, reducing personal holdings by CA$5.3m. Announcement • Nov 22
George Weston Limited Declares Dividend for Third Quarter of 2024, Payable on January 1, 2025 George Weston Limited declared dividend for third Quarter of 2024 on common share of $0.820 per share payable January 1, 2025, to shareholders of record December 15, 2024. Declared Dividend • Nov 21
Third quarter dividend of CA$0.82 announced Shareholders will receive a dividend of CA$0.82. Ex-date: 13th December 2024 Payment date: 1st January 2025 Dividend yield will be 1.4%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: CA$0.11 (vs CA$4.46 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.11 (down from CA$4.46 in 3Q 2023). Revenue: CA$18.7b (up 1.5% from 3Q 2023). Net income: CA$29.0m (down 95% from 3Q 2023). Profit margin: 0.2% (down from 3.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 22
George Weston Limited to Report Q3, 2024 Results on Nov 19, 2024 George Weston Limited announced that they will report Q3, 2024 results at 7:00 AM, US Eastern Standard Time on Nov 19, 2024 Recent Insider Transactions • Oct 06
Insider recently sold CA$8.4m worth of stock On the 1st of October, Alannah Weston sold around 37k shares on-market at roughly CA$227 per share. This transaction amounted to 87% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$10m more than they bought in the last 12 months. Upcoming Dividend • Sep 06
Upcoming dividend of CA$0.82 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 01 October 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (1.2%). Announcement • Sep 06
George Weston Limited announced that it has received $250 million in funding On September 5, 2024, George Weston Limited closed the transaction. Announcement • Sep 04
George Weston Limited announced that it expects to receive CAD 250 million in funding George Weston Limited announced that it will issue senior unsecured notes to qualified accredited investors s in each of the provinces of Canada for the gross proceeds of $250 million on September 3, 2024. The note will bear interest rate of 4.193% and will mature on September 5, 2029. The notes will be unsecured obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. The transaction is expected to close on September 5, 2024. The transaction is subject to customary closing condition. Recent Insider Transactions Derivative • Sep 01
President & CFO exercised options and sold CA$971k worth of stock On the 30th of August, Richard Dufresne exercised 8k options at a strike price of around CA$93.17 and sold these shares for an average price of CA$219 per share. This trade did not impact their existing holding. Since December 2023, Richard's direct individual holding has increased from 22.47k shares to 32.71k. Company insiders have collectively sold CA$27m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Aug 02
Second quarter dividend of CA$0.82 announced Shareholders will receive a dividend of CA$0.82. Ex-date: 13th September 2024 Payment date: 1st October 2024 Dividend yield will be 1.5%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 01
George Weston Limited Declares Dividend for Second Quarter of 2024, Payable on October 1, 2024 George Weston Limited declared dividend for Second Quarter of 2024 on common share of $0.820 per share payable October 1, 2024, to shareholders of record September 15, 2024. Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: CA$3.01 (vs CA$3.59 in 2Q 2023) Second quarter 2024 results: EPS: CA$3.01 (down from CA$3.59 in 2Q 2023). Revenue: CA$14.1b (up 1.5% from 2Q 2023). Net income: CA$410.0m (down 18% from 2Q 2023). Profit margin: 2.9% (down from 3.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year. Announcement • Jul 25
$500 Million Settlement Reaches with George Weston Limited and Loblaw Companies Limited in Packaged Bread Price-Fixing Class Action The Settlement Payment, less court-approved expenses, will be distributed to eligible class members in accordance with a plan of distribution, to be approved by the courts. If the settlement is approved, it will resolve all the plaintiffs' claims against Loblaw and George Weston relating to this matter. Further details will be available when court approval is sought, which will be before the end of the year. Announcement • Jul 04
George Weston Limited to Report Q2, 2024 Results on Jul 30, 2024 George Weston Limited announced that they will report Q2, 2024 results at 7:00 AM, Eastern Daylight on Jul 30, 2024 Upcoming Dividend • Jun 07
Upcoming dividend of CA$0.82 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.3%). Recent Insider Transactions Derivative • May 13
President & CFO exercised options and sold CA$13m worth of stock On the 9th of May, Richard Dufresne exercised 489k options at a strike price of around CA$92.91 and sold these shares for an average price of CA$120 per share. This trade did not impact their existing holding. Since December 2023, Richard's direct individual holding has increased from 22.47k shares to 22.57k. Company insiders have collectively sold CA$27m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • May 13
President & CFO recently sold CA$3.1m worth of stock On the 9th of May, Richard Dufresne sold around 16k shares on-market at roughly CA$190 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Richard's only on-market trade for the last 12 months. Declared Dividend • May 10
First quarter dividend of CA$0.82 announced Shareholders will receive a dividend of CA$0.82. Ex-date: 14th June 2024 Payment date: 1st July 2024 Dividend yield will be 1.6%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 09
George Weston Limited Declares a Quarterly Dividend on GWL Common Shares, Payable on July 1, 2024 George Weston Limited declared quarterly dividend of $0.820 per share payable July 1, 2024, to shareholders of record June 15, 2024. New Risk • May 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.2% Last year net profit margin: 3.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.04% per year for the foreseeable future. Minor Risks High level of debt (136% net debt to equity). Profit margins are more than 30% lower than last year (2.2% net profit margin). Reported Earnings • May 08
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: CA$1.75 (down from CA$3.04 in 1Q 2023). Revenue: CA$13.7b (up 4.6% from 1Q 2023). Net income: CA$236.0m (down 45% from 1Q 2023). Profit margin: 1.7% (down from 3.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Apr 10
George Weston Limited to Report Q1, 2024 Results on May 07, 2024 George Weston Limited announced that they will report Q1, 2024 results at 7:00 AM, Eastern Daylight on May 07, 2024