Business
Corby Spirit and Wine Limited reports its fiscal 2023 first quarter results for the period ended September 30, 2022 and announces dividend of $0.22 per share.
Corby Spirit and Wine Limited reports its fiscal 2023 first quarter results for the perio...
About this update from Corby Spirit And Wine Limited Class A
[{"type":"text","content":"\n \n \n \n Corby Spirit and Wine Limited reports its fiscal 2023 first quarter results for the period ended September 30, 2022 and announces dividend of $0.22 per share.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 9, 2022\n \n \n /CNW/ - Corby Spirit and Wine Limited (\"Corby\" or the \"Company\") (TSX: CSW.A) (TSX: CSW.B) today announced financial results for its fiscal 2023 first quarter for the period ended\n \n September 30, 2022\n \n .\n \n \n \n Strong start to the year with Q1 Revenue +7% and Net Earnings +12% off a low base last year\n \n \n \n Quarterly Dividend declared of\n \n $0.22\n \n per share, normalizing to pre-pandemic levels\n \n \n \n \n \n QUARTERLY DIVIDEND\n \n \n \n \n The Corby Board of Directors is pleased to declare a\n \n dividend of\n \n $0.22\n \n \n per Voting Class A Common Share and Non-Voting Class B Common Share of the Company. This dividend is\n \n payable\n \n on\n \n \n December 9, 2022\n \n \n to shareholders of record as at the close of business on\n \n November 25\n \n 2022. Given the Company's performance the Board of Directors has decided to exercise its discretion to declare a quarterly dividend of\n \n $0.22\n \n , normalizing to pre-pandemic levels and in excess of the dividend policy of an annual amount equal to the greater of 90% of net earnings per share of the preceding fiscal year ended\n \n June 30, 2022\n \n or\n \n $0.60\n \n per share.\n \n \n \n \n CONSUMER TREND\n \n \n \n \n \n Consumer demand remained resilient\n \n during Q1 with\n \n off-premise retail channel\n \n value remaining flat despite strong performance last year while\n \n on-premise channel\n \n is recovering well and driving growth.\n \n \n \n \n FINANCIAL RESULTS\n \n \n \n \n \n Revenue\n \n for the\n \n first quarter\n \n was\n \n up 7%\n \n compared to the same period last year. Strong performance this quarter was achieved by cycling a low comparison basis during the same period last year. Revenue streams were comprised ...