07:28 AM EDT, 05/06/2025 (MT Newswires) -- George Weston (WN.TO) on Tuesday reported higher first-quarter adjusted income that missed estimates. The company also announced a 9% dividend increase.

The company, which operates through Loblaw (L.TO) and Choice Properties REIT (CHP-UN.TO), said adjusted net earnings rose 8.7% to $339 million or $2.58 per share, from $312 million, or $2.30 per share, in the previous corresponding quarter. The result missed the consensus analyst forecast of $2.73, according to Capital IQ.

Revenue, which increased 4% to $14.3 billion over the same period, was modestly higher than the $14.2 billion forecast.

George Weston will pay the higher dividend of $0.89 per share on July 1.