Duyuru • Apr 10
Empire Company Limited (TSX:EMP.A) entered into an agreement to acquire Mayrand, Ltd. Empire Company Limited (TSX:EMP.A) entered into an agreement to acquire Mayrand, Ltd. on April 9, 2026. As part of the transaction, Empire will ensure continuity for the Mayrand workforce and stability for customers, suppliers, and business partners.
The transaction is being completed pursuant to a court-approved process and remains subject to customary closing conditions, including receipt of court-approval and required regulatory approvals. The transaction is expected to close in first quarter of fiscal 2027. Upcoming Dividend • Apr 08
Upcoming dividend of CA$0.22 per share Eligible shareholders must have bought the stock before 15 April 2026. Payment date: 30 April 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.7%. Lower than top quartile of Canadian dividend payers (5.6%). Higher than average of industry peers (1.1%). Duyuru • Mar 20
Empire Company Limited to Report Q3, 2027 Results on Mar 11, 2027 Empire Company Limited announced that they will report Q3, 2027 results on Mar 11, 2027 Recent Insider Transactions • Mar 19
Chief Marketing Officer recently sold CA$720k worth of stock On the 13th of March, Sandra Sanderson sold around 14k shares on-market at roughly CA$50.00 per share. This transaction amounted to 98% 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$2.0m more than they bought in the last 12 months. Declared Dividend • Mar 16
Third quarter dividend of CA$0.22 announced Shareholders will receive a dividend of CA$0.22. Ex-date: 15th April 2026 Payment date: 30th April 2026 Dividend yield will be 1.8%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is not covered by earnings (125% earnings payout ratio). However, it is well covered by cash flows (15% cash payout ratio). The dividend has increased by an average of 8.2% 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. The company's earnings per share (EPS) would need to grow by 39% to bring the payout ratio under control. However, EPS has declined by 23% over the last 5 years so the company would need to reverse this trend. New Risk • Mar 15
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 125% Dividend yield: 1.8% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (125% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Duyuru • Mar 13
Empire Company Limited Declares Quarterly Dividend Class A and B Common Shares, Payable on April 30, 2026 The Board of Directors of Empire Company Limited declared a quarterly dividend of $0.22 per share on both the Class A shares and the Class B common shares that will be payable on April 30, 2026 to shareholders of record on April 15, 2026. These dividends are eligible dividends as defined for the purposes of the Income Tax Act (Canada) and applicable provincial legislation. New Risk • Mar 13
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: 0.5% Last year net profit margin: 2.2% 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 have declined by 4.9% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • Mar 13
Third quarter 2026 earnings: Revenues and EPS in line with analyst expectations Third quarter 2026 results: CA$1.68 loss per share (down from CA$0.62 profit in 3Q 2025). Revenue: CA$7.92b (up 2.3% from 3Q 2025). Net loss: CA$385.0m (down 364% from profit in 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Duyuru • Feb 21
Empire Company Limited Announces Leadership Changes Empire Co. Ltd. has rejigged several top leadership roles at the company. The changes follow the promotion of Pierre St-Laurent to the job of chief executive at Empire late last year. The grocer has appointed Luc L’Archevêque to the new role of chief customer officer. The move comes as chief marketing officer Sandra Sanderson prepares to retire in July. It says L’Archevêque, who was chief merchandising officer at the company, has more than 25 years of experience working in the grocery industry. Empire also appointed Julia Knox, the company's chief technology and analytics officer, as its new chief retail officer, in charge of the grocer's retail operations, supply chain and central kitchens. She will continue to lead the company's technology and transformation team for the next 12 months, before fully assuming the role of chief retail officer. Empire says it has also expanded chief development officer Doug Nathanson's responsibilities to oversee its pharmacy, which it says has investment potential and untapped opportunities. Upcoming Dividend • Jan 08
Upcoming dividend of CA$0.22 per share Eligible shareholders must have bought the stock before 15 January 2026. Payment date: 30 January 2026. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Canadian dividend payers (5.7%). Higher than average of industry peers (1.2%). Declared Dividend • Dec 16
Second quarter dividend of CA$0.22 announced Shareholders will receive a dividend of CA$0.22. Ex-date: 15th January 2026 Payment date: 30th January 2026 Dividend yield will be 1.8%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 9.3% 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. Earnings per share has grown by 4.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Price Target Changed • Dec 12
Price target decreased by 7.4% to CA$53.38 Down from CA$57.63, the current price target is an average from 8 analysts. New target price is 16% above last closing price of CA$46.09. Stock is up 3.1% over the past year. The company posted earnings per share of CA$2.94 last year. Duyuru • Dec 12
Empire Company Limited Declares Quarterly Dividend on Class A Shares and the Class B Common Shares, Payable on January 30, 2026 The Board of Directors of Empire Company Limited declared a quarterly dividend of $0.22 per share on both the Class A shares and the Class B common shares that will be payable on January 30, 2026 to shareholders of record on January 15, 2026. Reported Earnings • Dec 11
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: CA$0.69 (down from CA$0.73 in 2Q 2025). Revenue: CA$8.01b (up 2.6% from 2Q 2025). Net income: CA$159.0m (down 8.3% from 2Q 2025). Profit margin: 2.0% (down from 2.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.4%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 08
Upcoming dividend of CA$0.22 per share Eligible shareholders must have bought the stock before 15 October 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Canadian dividend payers (5.8%). Higher than average of industry peers (1.2%). Declared Dividend • Sep 14
First quarter dividend of CA$0.22 announced Shareholders will receive a dividend of CA$0.22. Ex-date: 15th October 2025 Payment date: 31st October 2025 Dividend yield will be 1.7%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 9.3% 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. Earnings per share has grown by 5.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Sep 13
Empire Company Limited Appoints Kent R. Sobey to the Board of Directors Empire Company Limited, at the AGM held on September 11, 2025 the shareholders voted Kent R. Sobey to the Board of Directors for the first time. Mr. Sobey has had a distinguished career in the media industry. He is founder and President of Farmhouse Productions Ltd., a television and media production company and serves as a corporate director of Blue Ant Media. He previously served as a trustee of Crombie REIT for 11 years and on the advisory board of Empire Theatres Limited. Reported Earnings • Sep 12
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: CA$0.91 (up from CA$0.86 in 1Q 2025). Revenue: CA$8.29b (up 1.6% from 1Q 2025). Net income: CA$212.0m (up 2.0% from 1Q 2025). Profit margin: 2.6% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.4%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Sep 12
Empire Company Limited announces Quarterly dividend, payable on October 31, 2025 Empire Company Limited announced Quarterly dividend of CAD 0.2200 per share payable on October 31, 2025, ex-date on October 15, 2025 and record date on October 15, 2025. Recent Insider Transactions • Aug 08
Executive Vice President recently sold CA$480k worth of stock On the 1st of August, Simon Gagné sold around 9k shares on-market at roughly CA$54.61 per share. This transaction amounted to 100% 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$4.0m more than they bought in the last 12 months. Recent Insider Transactions • Aug 07
Executive Vice President recently sold CA$480k worth of stock On the 1st of August, Simon Gagné sold around 9k shares on-market at roughly CA$54.61 per share. This transaction amounted to 100% 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$4.0m more than they bought in the last 12 months. New Risk • Jul 30
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$950k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions Derivative • Jul 13
President exercised options and sold CA$2.6m worth of stock On the 10th of July, Michael Medline exercised options to acquire 45k shares at no cost and sold these for an average price of CA$56.68 per share. This trade did not impact their existing holding. For the year to May 2019, Michael's total compensation was 17% salary and 83% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, Michael's direct individual holding has increased from 159.24k shares to 182.74k. Company insiders have collectively sold CA$22m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Jul 08
Upcoming dividend of CA$0.22 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 31 July 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Canadian dividend payers (6.1%). Higher than average of industry peers (1.2%). Duyuru • Jun 30
Empire Company Limited, Annual General Meeting, Sep 11, 2025 Empire Company Limited, Annual General Meeting, Sep 11, 2025. Recent Insider Transactions Derivative • Jun 26
President exercised options and sold CA$2.5m worth of stock On the 20th of June, Michael Medline exercised options to acquire 45k shares at no cost and sold these for an average price of CA$55.19 per share. This trade did not impact their existing holding. For the year to May 2019, Michael's total compensation was 17% salary and 83% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, Michael's direct individual holding has increased from 159.24k shares to 160.99k. Company insiders have collectively sold CA$16m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Jun 23
Fourth quarter dividend of CA$0.22 announced Shareholders will receive a dividend of CA$0.22. Ex-date: 15th July 2025 Payment date: 31st July 2025 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 (27% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 9.3% 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. Earnings per share has grown by 6.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 20
Full year 2025 earnings released: EPS: CA$2.94 (vs CA$2.93 in FY 2024) Full year 2025 results: EPS: CA$2.94. Revenue: CA$31.3b (up 1.8% from FY 2024). Net income: CA$700.0m (down 3.5% from FY 2024). Profit margin: 2.2% (down from 2.4% in FY 2024). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 2.3% vs FY 2024 Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Canada. Duyuru • Jun 19
Empire Company Limited Declares Quarterly Dividend on Class A Shares and Class B Common Shares, Payable on July 31, 2025 Empire Company Limited declared a quarterly dividend of $0.22 per share on both Non-Voting Class A shares ("Class A shares") and Class B common shares, that will be payable on July 31, 2025 to shareholders of record on July 15, 2025. This reflects an increase in the annualized dividend rate of 10.0%. These dividends are eligible dividends as defined for the purposes of the Income Tax Act (Canada) and applicable provincial legislation. Recent Insider Transactions Derivative • May 04
President exercised options and sold CA$3.0m worth of stock On the 28th of April, Michael Medline exercised options to acquire 60k shares at no cost and sold these for an average price of CA$50.31 per share. This trade did not impact their existing holding. For the year to May 2018, Michael's total compensation was 17% salary and 83% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2024, Michael's direct individual holding has increased from 159.24k shares to 160.99k. Company insiders have collectively sold CA$14m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Apr 08
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 15 April 2025. Payment date: 30 April 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Canadian dividend payers (6.8%). Higher than average of industry peers (1.2%). Recent Insider Transactions Derivative • Apr 07
Chief Operating Officer exercised options and sold CA$1.1m worth of stock On the 1st of April, Pierre St-Laurent exercised options to acquire 23k shares at no cost and sold these for an average price of CA$47.81 per share. This trade did not impact their existing holding. Since June 2024, Pierre's direct individual holding has decreased from 99.00 shares to 0. Company insiders have collectively sold CA$10m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Mar 16
Third quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 15th April 2025 Payment date: 30th April 2025 Dividend yield will be 1.8%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 8.3% 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. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 13
Third quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2025 results: EPS: CA$0.62 (up from CA$0.55 in 3Q 2024). Revenue: CA$7.74b (up 3.0% from 3Q 2024). Net income: CA$146.1m (up 8.9% from 3Q 2024). Profit margin: 1.9% (up from 1.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Duyuru • Jan 21
Empire Company Limited to Report Q2, 2026 Results on Dec 11, 2025 Empire Company Limited announced that they will report Q2, 2026 results on Dec 11, 2025 Upcoming Dividend • Jan 08
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 15 January 2025. Payment date: 31 January 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.2%). Recent Insider Transactions Derivative • Dec 20
President exercised options and sold CA$3.4m worth of stock On the 13th of December, Michael Medline exercised options to acquire 76k shares at no cost and sold these for an average price of CA$44.83 per share. This trade did not impact their existing holding. For the year to May 2018, Michael's total compensation was 17% salary and 83% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Michael has owned 159.24k shares directly. Company insiders have collectively sold CA$6.9m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Dec 16
Second quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 15th January 2025 Payment date: 31st January 2025 Dividend yield will be 1.8%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 8.7% 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. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Price Target Changed • Dec 13
Price target increased by 10% to CA$48.75 Up from CA$44.13, the current price target is an average from 8 analysts. New target price is 8.7% above last closing price of CA$44.83. Stock is up 31% over the past year. The company posted earnings per share of CA$2.92 last year. Duyuru • Dec 13
Empire Company Limited Declares Quarterly Dividend on Both Class A Shares and the Class B Common Shares, Payable on January 31, 2025 Empire Company Limited announced that the board of directors declared a quarterly dividend of $0.20 per share on both the Class A shares and the Class B common shares that will be payable on January 31, 2025, to shareholders of record on January 15, 2025. These dividends are eligible as defined by the Income Tax Act (Canada) and applicable provincial legislation. Reported Earnings • Dec 12
Second quarter 2025 earnings released: EPS: CA$0.73 (vs CA$0.73 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.73. Revenue: CA$7.83b (flat on 2Q 2024). Net income: CA$173.4m (down 4.3% from 2Q 2024). Profit margin: 2.2% (down from 2.3% in 2Q 2024). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Consumer Retailing industry in Canada. Duyuru • Nov 12
Empire Company Limited to Report Q1, 2026 Results on Sep 11, 2025 Empire Company Limited announced that they will report Q1, 2026 results on Sep 11, 2025 Upcoming Dividend • Oct 08
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 15 October 2024. Payment date: 31 October 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Canadian dividend payers (5.9%). Higher than average of industry peers (1.3%). Recent Insider Transactions • Oct 04
President recently sold CA$1.4m worth of stock On the 30th of September, Michael Medline sold around 35k shares on-market at roughly CA$40.69 per share. This transaction amounted to 18% 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 Michael's only on-market trade for the last 12 months. Declared Dividend • Sep 15
First quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 15th October 2024 Payment date: 31st October 2024 Dividend yield will be 1.9%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 8.7% 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. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Price Target Changed • Sep 13
Price target increased by 9.1% to CA$42.71 Up from CA$39.14, the current price target is an average from 7 analysts. New target price is 7.9% above last closing price of CA$39.57. Stock is up 7.8% over the past year. The company posted earnings per share of CA$2.92 last year. Reported Earnings • Sep 13
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: CA$0.86 (down from CA$1.04 in 1Q 2024). Revenue: CA$8.19b (up 1.3% from 1Q 2024). Net income: CA$207.8m (down 20% from 1Q 2024). Profit margin: 2.5% (down from 3.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Duyuru • Sep 12
Empire Company Limited Declares Quarterly Dividend on Class A and Class B Common Shares, Payable on October 31, 2024 The Board of Directors of Empire Company Limited declared a quarterly dividend of $0.20 per share on both the Class A shares and the Class B common shares that will be payable on October 31, 2024 to shareholders of record on October 15, 2024. These dividends are eligible dividends as defined for the purposes of the Income Tax Act (Canada) and applicable provincial legislation. Upcoming Dividend • Jul 08
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Canadian dividend payers (6.6%). Higher than average of industry peers (1.3%). Recent Insider Transactions • Jun 30
Independent Chairman recently sold CA$534k worth of stock On the 21st of June, James Dickson sold around 16k shares on-market at roughly CA$34.48 per share. This transaction amounted to 41% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. James has been a net seller over the last 12 months, reducing personal holdings by CA$2.1k. Declared Dividend • Jun 23
Fourth quarter dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 15th July 2024 Payment date: 31st July 2024 Dividend yield will be 2.2%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 8.7% 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. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 21
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CA$2.92 (up from CA$2.65 in FY 2023). Revenue: CA$30.8b (flat on FY 2023). Net income: CA$725.2m (up 5.7% from FY 2023). Profit margin: 2.4% (up from 2.2% in FY 2023). Like-for-like sales growth: 2.0% vs FY 2023 Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 2.0% p.a. on average during the next 2 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 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Jun 21
Empire Company Limited Declares Quarterly Dividend on Non-Voting Class A Shares and the Class B Common Shares, Payable on July 31, 2024 Empire Company Limited declared a quarterly dividend of $0.20 per share on both Non-Voting Class A shares (Class A shares) and Class B common shares, that will be payable on July 31, 2024 to shareholders of record on July 15, 2024. This reflects an increase in the annualized dividend rate of 9.6%. Upcoming Dividend • Apr 05
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 12 April 2024. Payment date: 30 April 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.3%). Declared Dividend • Mar 17
Third quarter dividend of CA$0.18 announced Shareholders will receive a dividend of CA$0.18. Ex-date: 12th April 2024 Payment date: 30th April 2024 Dividend yield will be 2.2%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (13% 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. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 14
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CA$0.55 (up from CA$0.49 in 3Q 2023). Revenue: CA$7.52b (flat on 3Q 2023). Net income: CA$134.2m (up 6.8% from 3Q 2023). Profit margin: 1.8% (in line with 3Q 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Mar 14
Empire Company Limited Declares Quarterly Dividend on Both the Class A Shares and the Class B Common Shares, Payable on April 30, 2024 Empire Company Limited announced that the Board of Directors declared a quarterly dividend of $0.1825 per share on both the Class A shares and the Class B common shares that will be payable on April 30, 2024 to shareholders of record on April 15, 2024. Duyuru • Mar 09
Empire Company Limited, Annual General Meeting, Mar 14, 2024 Empire Company Limited, Annual General Meeting, Mar 14, 2024. Duyuru • Jan 24
Empire Company Limited Appoints Clinton Keay as Senior Vice President, Corporate Finance Crombie Real Estate Investment Trust announced that Clinton Keay will be resigning as Chief Financial Officer, effective February 23, 2024. Clinton will be joining Empire Company Limited as Senior Vice President, Corporate Finance.