07:07 AM EDT, 09/05/2024 (MT Newswires) -- The North West Company ( NNWWF ) overnight Wednesday said second quarter adjusted profit rose slightly on higher revenue. The company also announced a 2.6% dividend increase.

The company, which operates supermarkets, said profit, excluding the Fox Lake wildfire write-off, increased 1.6% to $40.7 million, from $40 million.

Sales rose 4.6% to $646.5 million, from $618.1 million.

The board approved a 2.6% increase in the quarterly dividend to $0.40 per share, payable on October 15.

"Looking ahead, we are optimistic about the foundation we are building across our company through our focus on operational excellence initiatives and the momentum in our Canadian business which collectively, are expected to offset near-term uncertainty related to economic and inflationary pressures in our International Operations," said CEO Dan McConnell.