Grocery and drugstore retailer Loblaw completes four-for-one stock split

Loblaw Cos. Ltd. says it has completed its plan for a four-for-one stock split of its common shares.

The grocery and drugstore retailer says its common shares began trading on a post-split basis as of market open on Tuesday.

The company had said it was doing the stock split to ensure its common shares remain accessible to retail investors and to employees who participate in its employee share ownership plan.

Loblaw also said it wanted to improve the liquidity of the shares.

Loblaw has more than 1,100 grocery stores as well as nearly 1,400 Shoppers Drug Mart and Pharmaprix stores.

George Weston Ltd., which owns a majority stake in Loblaw, also completed a three-for-one stock split of its shares on Tuesday.