Dividend Information

Empire confirms, for the purposes of the Income Tax Act (Canada) and applicable provincial legislation, that all dividends paid by the Company in 2006 on all classes of shares are eligible dividends and all dividends which are paid hereafter on any class of shares will be eligible dividends until that notice is revoked.

The declaration and payment of dividends is at the discretion of the Board. Empire is not aware of any restrictions that could prevent it from paying dividends.

The Non-Voting Class A shares (symbol EMP.A) are listed on the Toronto Stock Exchange. Empire has no stated policy with respect to payment of dividends on either its Class B common shares or on its Non-Voting Class A shares. Empire has paid dividends on its outstanding shares during the periods indicated as set out below:

1. The declaration and payment of dividends is at the discretion of the Board.
2. During the third quarter of fiscal 2012, the Company redeemed all of its 164,900 Series 2 Preferred Shares outstanding, in accordance with their terms.  The Series 2 Preferred Shares were redeemed at a price of $25 per share plus an amount equal to all dividends accrued and unpaid to January 31, 2012. The holders of the Series 2 Preferred shares were entitled to receive a cumulative preferential cash dividend, as and when declared by the Directors, on the last day of January, April, July and October in each year in an amount per share determined as one-quarter of 75 percent of the average prime rate in effect on each day during the three calendar months ending immediately prior to the last day of the calendar month preceding the month in which the dividend payment is to be made multiplied by $25.00.