Canada grocer Metro posts higher-than-expected profit, raises dividend

April 16 Wed Apr 16, 2014 7:27am EDT

April 16 (Reuters) - Canadian grocer Metro Inc posted a higher-than-expected profit for the second quarter and the company raised its quarterly dividend by 20 percent.

Metro reported earnings of C$1.07 per share from continuing operations for the quarter ended March 15.

Analysts on average had expected C$1.02 per share, according to Thomson Reuters I/B/E/S.

Metro raised its quarterly dividend to 30 Canadian cents per share. (Reporting by Sneha Banerjee in Bangalore; Editing by Kirti Pandey)