Dollarama’s founding Rossy family selling 2.2 million shares in retailer
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 08/04/2021 (1659 days ago), so information in it may no longer be current.
MONTREAL – Dollarama Inc. says the Rossy family, which founded the company, is selling a total of 2.2 million shares in the discount retailer.
The company says GRI Investments Inc., a private corporation controlled by the Rossy family, the Rossy Foundation and chief executive Neil Rossy are selling 618,369, 1,205,066 and 376,565 Dollarama shares respectively in block trades to a financial institution.
Dollarama says the sale by the Rossy Foundation will be used to fund its commitments to charitable organizations, while the sales by GRI Investments and Neil Rossy were made for financial diversification purposes.
Once the trades are settled, Dollarama says GRI Investments, the Rossy Foundation and Neil Rossy will still hold a total of nearly 13.1 million shares in the company for a 4.2 per cent stake.
After falling along with the rest of the stock market in the early days of the pandemic, shares in Dollarama have recovered and have been trading near their 52-week high in recent days.
Last week, the company reported a profit of $564.3 million or $1.81 per diluted share on sales of $4.03 billion in its latest financial year, up from $564 million or $1.78 per diluted share on $3.79 billion in sales the previous year.
This report by The Canadian Press was first published April 8, 2021.
Companies in this story: (TSX:DOL)