The Newfoundland and Labrador Liquor Commission has released its financial and operational fourth quarter results for the fiscal year ending on April 2, 2022.

NLC reported net earnings of $34.5 million for the quarter, thats a decrease of $4.5 million or 11.6 per cent compared to the fourth quarter of 2021. The dividend paid by NLC to the Government of Newfoundland and Labrador totaled $38.2 million for the quarter, lower than that paid to government over the same period the year previous. Despite that, the total dividend paid to government for the full fiscal year was $210 million —$15 million more than the previous year.

That’s the highest dividend ever paid to government in NLC’s history.

Beverage sales for the year were up 3.2 per cent from the previous year, while cannabis sales were up by 17.2 percent over the previous year.

NLC President Bruce Keating says he’s proud of the continued commitment shown by NLC’s team. NLC is among a variety of government assets that were the subject of a review conducted by Rothschild’s. Government has not yet made any decisions based on Rothschild’s recommendations.