MTY Food Group Announces 12% Increase in Quarterly Dividend Payment
MTY Food Group, a leading Canadian franchiser and operator of casual dining, fast casual, and quick service restaurants, has announced a 12% increase in its quarterly dividend payment following a year of strong growth.
The company revealed on Wednesday that it will raise its dividend payment to 28 Canadian cents per share (21 cents) from the previous amount of C$0.25. The newly increased dividend will be payable to shareholders of the company as of February 5, with the payment scheduled for February 15.
MTY Food Group's Chief Executive Officer, Eric Lefebvre, expressed satisfaction with the company's performance in 2023. He highlighted several key factors that contributed to their growth, including successful acquisitions such as Wetzel Pretzel's and Sauce Pizza and Wine in the first quarter, as well as BBQ Holdings in the final quarter of 2022.
Lefebvre emphasized, "The 12% increase is a testament to the strength of the MTY brand portfolio and our robust free cash flow generation capabilities. We have full confidence in the future prospects of MTY."
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