On Tuesday, January 27, 2026, the Board of Directors of Metro Inc. (TSE: MRU) announced a quarterly dividend increase from C$0.37 to C$0.4075 per share. The dividend will be payable in March 2026 to shareholders of record in February 2026. This represents a 10.14% increase over the prior quarterly dividend.

Current Dividend Yield and Income Impact

At yesterday’s closing price of C$92.93, this dividend increase raises Metro’s forward dividend yield to approximately 1.74%. While the yield remains modest, Metro continues to stand out as a high-quality dividend growth stock within the Canadian consumer staples sector.

As an owner of 55 shares of Metro Inc., this increase adds $4.51 to my projected annual net dividend income. The raise was fully in line with my expectations, and I gladly accept it.

Long-Term Dividend Growth Track Record

Metro is a member of the Canadian Dividend All-Star List, with an impressive 32-year streak of dividend increases. According to the Canadian Dividend All-Star List, Metro’s dividend growth rates are excellent:

1-year: 10.4%

3-year: 10.4%

5-year: 10.5%

10-year: 12.2%

This increase marks the fifth consecutive dividend raise I’ve received from Metro since initiating my position in October 2021. Over that period, the quarterly dividend has grown from C$0.25 to C$0.4075 per share, representing a 63% increase.

At the time of writing, MRU represents approximately 0.39% of my portfolio and contributes about 0.18% of my projected annual dividend income. Following this increase, my yield on cost stands at 2.62%.

Quick Valuation Take

At current levels, Metro appears fairly valued to slightly expensive, which is typical for a high-quality grocery and pharmacy operator with consistent earnings growth. Investors continue to assign a premium to Metro due to its defensive business model, pricing power, and reliable dividend growth.

Dividend Safety and Outlook

Metro’s dividend appears very safe, supported by stable cash flows, strong margins, and conservative payout ratios. The company operates in a defensive industry with steady demand, which supports continued dividend growth. While future increases may moderate, Metro’s dividend outlook remains highly reliable with solid long-term growth potential.

Final Thoughts

This dividend increase reinforces Metro’s position as a core Canadian dividend growth holding in my portfolio. While the yield is not high, the combination of consistency, double-digit growth, and dividend safety makes MRU an excellent long-term income compounder.

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Summary of 2026 Dividend Increases / Cuts

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Full Disclosure: Long MRU

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