TORONTO, May 6 /CNW/ - George Weston Limited (TSX: WN) confirmed today that it intends to participate in the shareholder dividend reinvestment plan announced today by its subsidiary, Loblaw Companies Limited (TSX: L) ("Loblaw") with respect to approximately 160 million Loblaw common shares owned by Weston.
Although the declaration and payment of dividends by Weston from time to time are at the discretion of the Board, which takes into account the Weston's financial results, capital requirements, available cash flow and other factors the Board considers relevant, Weston currently expects that participation in the Loblaw dividend reinvestment plan will not affect the payment by Weston of its quarterly common share dividends at their historical levels.
About George Weston Limited
George Weston Limited is one of North America's largest food processing and distribution groups operating in two segments: baking through Weston Foods, and food and general merchandise distribution through Loblaw Companies Limited.
This news release includes forward-looking statements, including the Company's view regarding future dividend payments. No assurance can be given that future dividend payments by the Company will be completed. Forward-looking statements reflect the Company's current expectations concerning future results and events and is subject to a number of risks and uncertainties that could cause actual results and events to differ materially from current expectations, including the possibility that the Company's plans and objectives will not be achieved. These risk and uncertainties include but are not limited to: the amount of quarterly dividends paid by the Company is in the discretion of the Company's board of directors and is subject to a number of external factors. The assumptions used in making this forward looking statement include that the Company's financial performance to sustain the payment of dividends at current levels. Additional risks are discussed in the forward looking statements disclaimer found on page 2 of the 2008 Annual Report and in the Risks and Risk Management section of the Management's Discussion and Analysis on pages 33 to 41 of the Annual Report and also the 2009 First Quarter Interim Report. Other risks and uncertainties not presently known to the Company or that the Company presently believes are not material could also cause actual results or events to differ materially from those expressed in its forward-looking statements. Readers are cautioned not to put undue reliance on forward looking statements that reflect the Company's expectations only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.