07:39 AM EDT, 06/20/2024 (MT Newswires) -- Empire Company (EMP-A.TO), a grocer, on Thursday reported a slight fourth-quarter adjusted earnings beat and boosted its dividend 9.6% to $0.20 per share.

Adjusted profit fell to $154 million, or $0.63 per share, from $184.9 million, or $0.72 per share, last year. The result was slightly higher than the consensus analyst forecast of $0.62 per share, according to Capital IQ.

Revenue was little changed at $7.41 billion, compared with $7.4 billion last year, and in line with Capital IQ's forecast of $7.4 billion. The slight increase was due to growth across the business, offset by lower fuel sales, the company said.

For fiscal 2025, capital spending is expected to be $700 million, with half of it allocated to renovations and new store expansion.

The company also renewed its notice of intention to buy back up to 12.8 million shares ($400 million) in fiscal 2025. Under its current program, which expires July 1, Empire has bought back 9.5 million shares, for $335.8 million.