Duyuru • Jun 30
Empire Company Limited to Report Q4, 2027 Results on Jun 17, 2027 Empire Company Limited announced that they will report Q4, 2027 results on Jun 17, 2027 Duyuru • Jun 29
Empire Company Limited, Annual General Meeting, Sep 10, 2026 Empire Company Limited, Annual General Meeting, Sep 10, 2026. Declared Dividend • Jun 25
Fourth quarter dividend of CA$0.24 announced Shareholders will receive a dividend of CA$0.24. Ex-date: 15th July 2026 Payment date: 31st July 2026 Dividend yield will be 2.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio). However, it is well covered by cash flows (18% 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 13% to bring the payout ratio under control. However, EPS has declined by 20% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Jun 21
Full year 2026 earnings released: EPS: CA$0.86 (vs CA$2.94 in FY 2025) Full year 2026 results: EPS: CA$0.86 (down from CA$2.94 in FY 2025). Revenue: CA$32.0b (up 2.1% from FY 2025). Net income: CA$198.0m (down 72% from FY 2025). Profit margin: 0.6% (down from 2.2% in FY 2025). Like-for-like sales growth: 1.9% vs FY 2025 Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Duyuru • Jun 18
Empire Company Limited Declares Quarterly Dividend Class A and B Common Shares, Payable on July 31, 2026 Empire Company Limited declared a quarterly dividend of $0.2425 per share on both Non-Voting Class A shares ("Class A shares") and Class B common shares, that will be payable on July 31, 2026 to shareholders of record on July 15, 2026. This reflects an increase in the annualized dividend rate of 10.2%. These dividends are eligible dividends as defined for the purposes of the Income Tax Act (Canada) and applicable provincial legislation. 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. 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 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. 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. 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. 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. 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. Duyuru • Jun 30
Empire Company Limited, Annual General Meeting, Sep 11, 2025 Empire Company Limited, Annual General Meeting, Sep 11, 2025. 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. 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 Declared Dividend • Dec 30
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 2.0%, which is higher than the industry average of 1.8%. 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. 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. 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 German dividend payers (4.8%). Lower than average of industry peers (3.9%). Recent Insider Transactions • Oct 04
President recently sold €956k worth of stock On the 30th of September, Michael Medline sold around 35k shares on-market at roughly €27.00 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 16
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 2.2%, which is higher than the industry average of 1.8%. 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. Reported Earnings • Sep 13
First quarter 2025 earnings released: EPS: CA$0.86 (vs CA$1.04 in 1Q 2024) 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 is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has remained flat. 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 German dividend payers (4.6%). Lower than average of industry peers (4.2%). Recent Insider Transactions • Jun 30
Independent Chairman recently sold €365k worth of stock On the 21st of June, James Dickson sold around 16k shares on-market at roughly €23.53 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 €1.3k. Declared Dividend • Jun 24
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 2.5%, which is higher than the industry average of 1.8%. 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. 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%. Reported Earnings • Jun 21
Full year 2024 earnings released: EPS: CA$2.92 (vs CA$2.65 in FY 2023) 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 is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. 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 6% per year, which means it is significantly lagging earnings. 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 German dividend payers (4.7%). Lower than average of industry peers (4.1%). Declared Dividend • Mar 18
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 2.5%, which is higher than the industry average of 1.8%. 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 released: EPS: CA$0.55 (vs CA$0.49 in 3Q 2023) 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 is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. 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. Upcoming Dividend • Jan 05
Upcoming dividend of CA$0.18 per share at 2.1% yield Eligible shareholders must have bought the stock before 12 January 2024. Payment date: 31 January 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.2%). Duyuru • Dec 15
Empire Company Limited Declares Quarterly Dividend on Both the Non-Voting Class A Shares and the Class B Common Shares, Payable on January 15, 2024 Empire Company Limited announced that the Board of Directors declared a quarterly dividend of $0.1825 per share on both the Non-Voting Class A shares and the Class B common shares that will be payable on January 31, 2024 to shareholders of record on January 15, 2024. These dividends are eligible dividends as defined for the purposes of the Income Tax Act (Canada) and applicable provincial legislation. Reported Earnings • Dec 15
Second quarter 2024 earnings released: EPS: CA$0.73 (vs CA$0.73 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.73 (down from CA$0.73 in 2Q 2023). Revenue: CA$7.81b (up 1.6% from 2Q 2023). Net income: CA$181.1m (down 4.6% from 2Q 2023). Profit margin: 2.3% (down from 2.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Recent Insider Transactions • Nov 06
Chief Operating Officer recently sold €491k worth of stock On the 1st of November, Pierre St-Laurent sold around 19k shares on-market at roughly €26.24 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. Pierre has been a net seller over the last 12 months, reducing personal holdings by €621k. Upcoming Dividend • Oct 05
Upcoming dividend of CA$0.18 per share at 1.9% yield Eligible shareholders must have bought the stock before 12 October 2023. Payment date: 31 October 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.5%). Reported Earnings • Sep 15
First quarter 2024 earnings released: EPS: CA$1.04 (vs CA$0.71 in 1Q 2023) First quarter 2024 results: EPS: CA$1.04 (up from CA$0.71 in 1Q 2023). Revenue: CA$8.20b (up 3.1% from 1Q 2023). Net income: CA$261.0m (up 39% from 1Q 2023). Profit margin: 3.2% (up from 2.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 1% per year. Duyuru • Sep 15
Empire Company Limited Declares Quarterly Dividend on Both the Non-Voting Class A Shares and the Class B Common Shares, Payable on October 31, 2023 The Board of Directors of Empire Company Limited declared a quarterly dividend of $0.1825 per share on both the Non-Voting Class A shares and the Class B common shares that will be payable on October 31, 2023 to shareholders of record on October 13, 2023. These dividends are eligible dividends as defined for the purposes of the Income Tax Act (Canada) and applicable provincial legislation. Upcoming Dividend • Jul 06
Upcoming dividend of CA$0.18 per share at 2.0% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.3%). Duyuru • Jun 23
Empire Company Limited Declares Quarterly Dividend on Both the Non-Voting Class A Shares and the Class B Common Shares, Payable on July 31, 2023 Empire Company Limited declared a quarterly dividend of $0.1825 per share on both the Non-Voting Class A shares ("Class A shares") and the Class B common shares that will be payable on July 31, 2023 to shareholders of record on July 14, 2023, which reflects an increase in the annualized dividend rate of 10.6%. Reported Earnings • Jun 23
Full year 2023 earnings released Full year 2023 results: Revenue: CA$30.6b (up 1.2% from FY 2022). Net income: CA$686.0m (down 8.0% from FY 2022). Profit margin: 2.2% (down from 2.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Apr 06
Upcoming dividend of CA$0.17 per share at 1.8% yield Eligible shareholders must have bought the stock before 13 April 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.7%). Reported Earnings • Mar 18
Third quarter 2023 earnings released: EPS: CA$0.49 (vs CA$0.77 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.49 (down from CA$0.77 in 3Q 2022). Revenue: CA$7.51b (up 1.2% from 3Q 2022). Net income: CA$125.7m (down 38% from 3Q 2022). Profit margin: 1.7% (down from 2.7% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Jan 05
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 12 January 2023. Payment date: 31 January 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.8%). Reported Earnings • Dec 16
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CA$7.69b (up 4.7% from 2Q 2022). Net income: CA$189.9m (up 8.3% from 2Q 2022). Profit margin: 2.5% (up from 2.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Retailing industry in Europe. Upcoming Dividend • Oct 06
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 13 October 2022. Payment date: 31 October 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (5.4%). Lower than average of industry peers (5.2%). Recent Insider Transactions • Sep 23
President recently bought €262k worth of stock On the 19th of September, Michael Medline bought around 10k shares on-market at roughly €26.98 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of €469k worth in shares. Reported Earnings • Sep 16
First quarter 2023 earnings released First quarter 2023 results: Revenue: CA$7.96b (up 4.1% from 1Q 2022). Net income: CA$187.5m (flat on 1Q 2022). Profit margin: 2.4% (down from 2.5% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of CA$0.17 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.5%). Reported Earnings • Jun 23
Full year 2022 earnings released: EPS: CA$2.84 (vs CA$2.61 in FY 2021) Full year 2022 results: EPS: CA$2.84 (up from CA$2.61 in FY 2021). Revenue: CA$30.3b (up 7.1% from FY 2021). Net income: CA$745.8m (up 6.3% from FY 2021). Profit margin: 2.5% (in line with FY 2021). Over the next year, revenue is forecast to grow 1.8%, compared to a 7.4% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 06
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 13 April 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (3.8%). Lower than average of industry peers (4.3%). Reported Earnings • Mar 11
Third quarter 2022 earnings: Revenues in line with analyst expectations Third quarter 2022 results: Revenue: CA$7.45b (up 5.8% from 3Q 2021). Net income: CA$203.4m (up 15% from 3Q 2021). Profit margin: 2.7% (up from 2.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.4%, compared to a 7.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jan 06
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 13 January 2022. Payment date: 28 January 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.5%). Recent Insider Transactions • Dec 15
President recently bought €207k worth of stock On the 13th of December, Michael Medline bought around 8k shares on-market at roughly €25.84 per share. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Reported Earnings • Dec 10
Second quarter 2022 earnings: Revenues in line with analyst expectations Second quarter 2022 results: Revenue: CA$7.35b (up 5.1% from 2Q 2021). Net income: CA$175.4m (up 8.7% from 2Q 2021). Profit margin: 2.4% (up from 2.3% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.9%, compared to a 7.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 07
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 14 October 2021. Payment date: 29 October 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.7%). Reported Earnings • Sep 10
First quarter 2022 earnings released The company reported a mediocre first quarter result with weaker earnings, although profit margins were flat and revenues improved. First quarter 2022 results: Revenue: CA$7.66b (up 4.0% from 1Q 2021). Net income: CA$188.5m (down 1.8% from 1Q 2021). Profit margin: 2.5% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of CA$0.15 per share Eligible shareholders must have bought the stock before 14 July 2021. Payment date: 30 July 2021. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.8%). Reported Earnings • Jun 25
Full year 2021 earnings released: EPS CA$2.63 (vs CA$2.16 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: CA$28.4b (up 6.4% from FY 2020). Net income: CA$701.5m (up 20% from FY 2020). Profit margin: 2.5% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 24
Empire Company Limited Provides Revenue Guidance for the Fiscal Year 2022 Empire Company Limited provided revenue guidance for the fiscal year 2022. For the period, the company expects same-store sales will reduce, as industry volumes decrease, compared to the unusually high industry sales in fiscal 2021. Duyuru • May 12
Empire Company Limited (TSX:EMP.A) completed the acquisition of 51% stake in Longo Brothers Fruit Markets Inc. from a family for approximately CAD 350 million. Empire Company Limited (TSX:EMP.A) entered into an agreement to acquire 51% stake in Longo Brothers Fruit Markets Inc. from a family for approximately CAD 360 million on March 16, 2021. Under the terms, Empire intends to finance the transaction through the issuance of up to CAD 125 million non-voting Class A shares to the vendors, subject to TSX approval, cash of approximately CAD 197 million and acquired debt of approximately CAD 35 million. Under this transaction, Empire Company will acquire 51% stake in Longo Brothers Fruit Markets and Grocery Gateway, wholly owned subsidiary of Longo Brothers Fruit Markets, e-commerce business. After the fifth anniversary of the transaction, Longo's shareholders have an option to sell up to 12.25% interest to Empire per annum. The Longo family has expressed their intentions to remain as long-term shareholders of Longo’s. Grocery Gateway will continue as a stand-alone business. Longo’s and Grocery Gateway will continue to be led by President and Chief Executive Officer, Anthony Longo, and his team of talented food retail executives. Longo reported sales of approximately CAD 1.1 billion for the year ended February 28, 2021. The transaction is subject to customary closing conditions and is expected to close in the first quarter of fiscal 2022. This transaction is expected to be accretive to earnings per share in the first full fiscal year after closing. Christopher Murray, Shuli Rodal, Drew Morier, Savvas Kotsopoulos and Patrick G. Welsh of Osler, Hoskin & Harcourt LLP acted as legal advisor to Longo Brothers Fruit Markets Inc. The Bank of Nova Scotia acted as financial advisor to Empire Company Limited. KPMG Inc. acted as financial advisor to Longo Brothers Fruit Markets Inc.
Empire Company Limited (TSX:EMP.A) completed the acquisition of 51% stake in Longo Brothers Fruit Markets Inc. from a family for approximately CAD 350 million on May 10, 2021. The consideration consisted of the issuance of 3.19 million non-voting Class A shares to the vendors, cash of CAD 193.6 million and acquired debt of CAD 38.4 million. The purchase price is subject to final closing adjustments. Recent Insider Transactions • Apr 21
Insider recently sold €433k worth of stock On the 16th of April, Simon Gagné sold around 16k shares on-market at roughly €26.48 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Apr 07
Upcoming dividend of CA$0.13 per share Eligible shareholders must have bought the stock before 14 April 2021. Payment date: 30 April 2021. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.2%). Duyuru • Mar 17
Empire Company Limited (TSX:EMP.A) entered into an agreement to acquire 51% stake in Longo Brothers Fruit Markets Inc. from a family for approximately CAD 360 million. Empire Company Limited (TSX:EMP.A) entered into an agreement to acquire 51% stake in Longo Brothers Fruit Markets Inc. from a family for approximately CAD 360 million on March 16, 2021. Under the terms, Empire intends to finance the transaction through the issuance of up to CAD 125 million non-voting Class A shares to the vendors, subject to TSX approval, cash of approximately CAD 197 million and acquired debt of approximately CAD 35 million. Under this transaction, Empire Company will acquire 51% stake in Longo Brothers Fruit Markets and Grocery Gateway, wholly owned subsidiary of Longo Brothers Fruit Markets, e-commerce business. After the fifth anniversary of the transaction, Longo's shareholders have an option to sell up to 12.25% interest to Empire per annum. The Longo family has expressed their intentions to remain as long-term shareholders of Longo’s. Grocery Gateway will continue as a stand-alone business. Longo’s and Grocery Gateway will continue to be led by President and Chief Executive Officer, Anthony Longo, and his team of talented food retail executives. Longo reported sales of approximately CAD 1.1 billion for the year ended February 28, 2021. The transaction is subject to customary closing conditions and is expected to close in the first quarter of fiscal 2022. This transaction is expected to be accretive to earnings per share in the first full fiscal year after closing. Is New 90 Day High Low • Mar 12
New 90-day high: €25.60 The company is up 14% from its price of €22.40 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.89 per share. Duyuru • Mar 12
Empire Company Limited Declares Quarterly Dividend, Payable on April 30, 2021 The Board of Empire Company Limited Directors declared a quarterly dividend of $0.13 per share on both the Non-Voting Class A shares and the Class B common shares that will be payable on April 30, 2021 to shareholders of record on April 15, 2021. These dividends are eligible dividends as defined for the purposes of the Income Tax Act (Canada) and applicable provincial legislation. Reported Earnings • Mar 11
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$7.04b (up 9.8% from 3Q 2020). Net income: CA$176.3m (up 46% from 3Q 2020). Profit margin: 2.5% (up from 1.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 11
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to stay flat compared to a 1.6% growth forecast for the Consumer Retailing industry in Germany. Duyuru • Feb 26
Crombie Real Estate Investment Trust (TSX:CRR.UN) acquired 54,000 sqft Cliffe Avenue in Courtenay, BC property from Empire Company Limited (TSX:EMP.A) for CAD 17.1 million. Crombie Real Estate Investment Trust (TSX:CRR.UN) acquired 54,000 sqft Cliffe Avenue in Courtenay, BC property from Empire Company Limited (TSX:EMP.A) for CAD 17.1 million on December 15, 2020. The purchase price is before transaction costs.
Crombie Real Estate Investment Trust (TSX:CRR.UN) completed the acquisition of 54,000 sqft Cliffe Avenue in Courtenay, BC property from Empire Company Limited (TSX:EMP.A) on December 15, 2020. Duyuru • Feb 17
Empire Company Limited to Report Q1, 2022 Results on Sep 09, 2021 Empire Company Limited announced that they will report Q1, 2022 results on Sep 09, 2021 Is New 90 Day High Low • Feb 08
New 90-day high: €24.00 The company is up 1.0% from its price of €23.80 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.09 per share. Upcoming Dividend • Jan 07
Upcoming Dividend of CA$0.13 Per Share Will be paid on the 29th of January to those who are registered shareholders by the 14th of January. The trailing yield of 1.5% is below the top quartile of German dividend payers (3.5%), and is lower than industry peers (3.5%). Is New 90 Day High Low • Dec 22
New 90-day low: €21.80 The company is down 11% from its price of €24.40 on 23 September 2020. The German market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €19.70 per share. Reported Earnings • Dec 12
Second quarter 2021 earnings released: EPS CA$0.60 The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CA$6.99b (up 8.0% from 2Q 2020). Net income: CA$161.4m (up 4.4% from 2Q 2020). Profit margin: 2.3% (down from 2.4% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Dec 12
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 1.6%, compared to a 1.5% growth forecast for the Consumer Retailing industry in Germany. Is New 90 Day High Low • Oct 05
New 90-day high: €25.00 The company is up 17% from its price of €21.40 on 07 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.94 per share. 
