George Weston Ltd. 2022 Earnings, Preferred Share Update

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Current dividend $2.64.

George Weston Ltd. (WN) is a Canadian holding company operating through two subsidiaries, Loblaw Companies Ltd(L), the largest grocer in Canada, in which it has a 53% controlling stake, and Choice Properties REIT(CHP.UN) with 62% ownership. Weston Foods, a North American bakery was sold in Q1-2022. Loblaw is Choice REIT's largest tenant. In May-2018 Choice Properties acquired Canadian Real Estate Investment Trust for $3.71B making them one of the largest REITs in Canada. George Weston, through its holding of Loblaws and Choice Properties REIT, has assets of $48.9B as of Dec-31-2022 compared to $47.8B at Dec-31-2021.

In 2016 Galen G. Weston succeeded his father, W. Galen Weston, as the controlling shareholder of Wittington Investments, Ltd., the controlling shareholder of George Weston Ltd. at 52.7%.

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