Metro Raises Dividend Despite Q1 Profit Decline

Montreal-based grocery and drugstore retailer Metro Inc. announced an increase in its quarterly dividend on January 27, 2026, even as it reported a decline in first-quarter profit attributed to expenses from a temporary shutdown of its Toronto frozen food distribution center.

The company stated it would pay shareholders 40.75 cents per share, a rise from the previous 37 cents. This decision accompanied financial results for the 12-week period ending December 20, 2025, which showed net earnings of $226.3 million, or $1.05 per diluted share. That marked a decrease from the $259.5 million, or $1.16 per diluted share, recorded in the same quarter of the prior fiscal year.

The profit reduction stemmed primarily from costs incurred during the closure of the Toronto facility, which halted operations on September 12, 2025, following a refrigeration system malfunction. Operations resumed on November 10, 2025, after nearly two months of disruption. Metro officials noted that the incident affected the supply chain for frozen products but did not provide further details on the extent of the financial impact beyond the reported figures.

Excluding the effects of the closure and other one-time...