MTY Food Group raises quarterly dividend by 12%
Restaurant franchiser and operator MTY Food Group Inc. is raising its quarterly dividend by 12%.
The company behind more than 80 banners including Thai Express, Manchu Wok and Baton Rouge says it will now pay a quarterly dividend of 37 cents per share, up from 33 cents.
The new dividend will be payable on Feb. 13 to shareholders of record on Feb. 3.
The shares will have an annual yield of 3.7%, based on MTY's share price of $40.01 on Tuesday.
MTY chief executive Eric Lefebvre says the increase underscores the board of directors’ confidence in MTY’s ability to generate sustainable cash flow and deliver long-term value.
The company announced late last year that it had initiated a review of strategic alternatives, including a possible a sale of all or part of the business.
