February 25th, 2024

Restaurant company MTY Food Group raising quarterly dividend 12%

By The Canadian Press on January 24, 2024.

MONTREAL – MTY Food Group Inc. says it is raising its quarterly dividend by 12 per cent.

The restaurant franchisor and operator says it will now pay shareholders a quarterly dividend of 28 cents per share, up from 25 cents per share.

The increase comes after MTY chief executive Eric Lefebvre says the company posted record results in the first nine months of 2023.

Lefebvre says acquisitions of Wetzel Pretzel’s and Sauce Pizza and Wine in the first quarter of 2023 as well as BBQ Holdings Inc. in the last quarter of 2022 contributed to the improved results.

MTY franchises and operates quick-service, fast casual and casual dining restaurants under more than 90 different banners in Canada, the United States and internationally.

Shares in the company closed up 37 cents at $55.67 on the Toronto Stock Exchange on Tuesday.

This report by The Canadian Press was first published Jan. 24, 2024.

Companies in this story: (TSX:MTY)

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