Morrison Posts Full-Year Net Loss, Plans To Lower Dividend

Wm Morrison Supermarkets PLC MRWSY reported a net loss for fiscal 2015. Wm Morrison posted a net loss of 761 million pounds ($1.14 billion) for the year, versus a year-ago loss of GBP238 million. Its revenue slipped to GBP16.82 billion from GBP17.68 billion. Underlying pretax profit declined to GBP345 million, compared to GBP719 million, versus analysts' estimates of 342 million pounds. For the full year, Morrison lifted its total dividend to 13.65 pence from 13.0 pence. For 2015-16, Morrison projects dividend of not less than 5 pence a share.