MTY Group CEO Eric Lefebvre poses in front of two of the company's food court brands in 2024. He says MTY's dividend increase underscores the company's ability to generate sustainable cash flow and deliver long-term value.Christinne Muschi/The Canadian Press
Restaurant franchiser and operator MTY Food Group Inc. MTY-T is raising its quarterly dividend by 12 per cent.
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 per cent, 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.