Woolworths (ASX:WOW) shares end in green today, here's why

2 min read | March 28, 2022 07:24 PM AEDT | By Bhawna Gupta

Woolworths (ASX:WOW) shares end in green today, here's why

Why were Woolworths shares trading in green?

On 22 March 2022, Woolworths had provided an update on its distribution. The company announced to pay a dividend of AU$0.39 per share on 13 April 2022. Since then, Woolworths' shares have increased around 1.7%. Although the company reported a negative growth of approx. 3.9% on its YTD share price. Since then, it reached the highest level of AU$38.65 apiece (on 4 January 2022).

Recent business moves of Woolsworth

Retail giant Woolworths Group Limited (ASX:WOW), via its venture capital arm W3, is investing in the alternative proteins business All G Foods.

All G Foods develops dairy proteins using precision fermentation and plant-based protein products under the consumer label Love Buds. The company is expanding into plant-based chicken, sausages, nuggets, and other meat alternatives. It even plans to roll out its first batch of products to stores over the next few months.

Also Read: Woolworths (ASX:WOW) invests millions in meat start-up All G Foods

Image source: © Darianipot |Megapixl.com

Woolworths' 1HFY22 results

On 23 February 2022, Woolworths had shared its half-yearly results. As per the results, Woolies’ continuing operation sales rose 8% to AU$31.9 billion; the net profit slipped 6.5% to AU$795 million for the period ended 2 January 2022. The earnings before interest and tax (EBIT) fell 11% to AU$1.38 billion.

Must Read: Why Woolworths’ (ASX:WOW) share price would be on watch today

Woolworths put buying limits amid flood crises

During the time of floods in Australia last month (February 2022), Woolworths, along with another retail giant Coles Group Limited (ASX:COL) had put purchasing limits on various essential products on 1 March 2022 due to heavy rainfall in some parts of the country. These products include rice, milk, and toilet paper.

Woolworths and Coles had also temporarily closed several of their stores in Queensland and New South Wales.

Also Read: Coles (ASX:COL), Woolworths (ASX:WOW) put buying limits amid flood crisis

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