SYDNEY--Australian grocer Woolworths Group Ltd.'s (WOW.AU) annual net profit rose by more than 12% and it boosted dividends, reflecting earnings growth in the Australian food division and benefits from a new petrol alliance. Net profit in the year through June 24 was about 1.73 billion Australian dollars (US$1.27 billion). Woolworths said earnings before interest and tax in its key Australian food division rose by nearly 10%. The company declared a final dividend of 50 Australian cents per share, plus a special dividend of 10 Australian cents. The company recently banned free single-use plastic bags to cut down on waste and is offering sturdier plastic bags to customers for a small fee.

Source: Wall Street Journal August 19, 2018 22:52 UTC