MTY Food Group Inc. MTY-T is raising its quarterly dividend by 18 per cent.
The franchisor and operator of restaurants says it will now pay a quarterly dividend of 33 cents per share up from 28 cents.
Shares in the company behind many mall food court favourites will have an annual yield of about 2.7 per cent based on their closing price of $48.91 on the Toronto Stock Exchange on Tuesday.
MTY chief executive Eric Lefebvre says the increase reflects the company’s continued confidence in its financial strength and strategic growth initiatives.
The new rate will be payable on Feb. 14 to shareholders of record at the end of the business day on Feb. 4.
MTY has dozens of brands including Jugo Juice, Manchu Wok and Mr. Sub as well as Baton Rouge and Scores.