George Weston Limited Reports 2013 First Quarter Results and Announces 9.2% Dividend Increase(1).

About this update from George Weston Limited

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, May 7, 2013 /CNW/ - George Weston Limited (TSX: WN) (\"GWL\")\n today announced its consolidated unaudited results for the 12 weeks\n ended March 23, 2013.\n\n\nThe 2013 First Quarter Report to Shareholders of George Weston Limited\n and its subsidiaries, together referred to as the \"Company\", including\n the Company's unaudited interim period condensed consolidated financial\n statements and Management's Discussion and Analysis (\"MD&A\") for the 12\n weeks ended March 23, 2013, is available in the Investor Centre section\n of the Company's website at www.weston.ca and has been filed with the System for Electronic Document Analysis and\n Retrieval (\"SEDAR\") and will be available at www.sedar.com.\n\n\n2013 First Quarter Summary\n•  Adjusted basic net earnings per common share(2) of $0.88 compared to $0.87 in the first quarter of 2012.\n•  Adjusted operating income(2) growth of 3.9% to $323 million.\n•  Sales growth of 3.7% to $7,494 million.\n•  Quarterly common share dividend increase of 9.2% to $0.415 per common\n share, which follows a 5.6% increase late last year.\n\n\n\"The first quarter of 2013 delivered strong operating results for George\n Weston Limited. Our continued focus on enhancing shareholder value is a\n priority and today we announced a dividend increase - building on the\n increase announced late last year. Work is well underway on the initial\n public offering of the Loblaw Real Estate Investment Trust, and I am\n pleased with the progress\", said W. Galen Weston, Executive Chairman,\n George Weston Limited.\n\n\n\n\n\n\n\nCONSOLIDATED RESULTS OF OPERATIONS\n\n\n \n\n\n\n\n(unaudited)\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n($ millions except where otherwise indicated)\n\n\n12 Weeks Ended\n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nFor the periods ended as indicated\n\n\n \n\n\nMar. 23, 2013\n\n\n \n\n\nMar. 24, 2012(3)\n\n\n \n\n\nChange\n\n\n\n\nSales\n\n\n \n\n\n$\n\n\n7,494\n\n\n \n\n\n \n\n\n$\n\n\n7,224\n\n\n \n\n\n \n\n\n3.7\n\n\n%\n\n\n\n\nOperating income\n\n\n \n\n\n$\n\n\n382\n\n\n \n\n\n...

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