MONTREAL,
Jan. 18, 2022 /CNW
Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY),
franchisor and operator of multiple concepts of restaurants
worldwide, announces its quarterly dividend payment will increase
from 18.5¢ per share to 21.0¢ per share, a growth of 14%. The 21.0¢
dividend will be payable on February 15,
2022 to shareholders registered in the Company's records at
the end of the business day on February 3,
2022.
"We are extremely excited to announce an increase to our
quarterly dividend. This will be our first increase since the onset
of the COVID-19 pandemic. The resilience shown by our many brands
and our customers' continued support over the course of the past
two years have been anything but astonishing. Our free cash flow
generation abilities are robust and we are very confident in the
future of MTY despite the challenges COVID-19 restrictions still
poses to our industry. The pandemic has allowed MTY to explore new
paths for strategic growth more aggressively, including the
continued expansion in online ordering platforms and digital
marketing and the increased focus on capturing market share with
our retail segment. The 14% increase represents the ninth increase
since our first dividend of 4.5¢ per quarter was declared in
November 2010" says Eric Lefebvre.
"In terms of capital allocation, MTY's priority remains to
continue to seek strategic acquisitions as the market conditions
improve to make such investments. We will also continue to
invest in our current brand network and our share buyback under our
existing NCIB. We hope to restore the great momentum in the growth
of the company in the months and years to come as our industry
reopens and markets find some form of normalcy."
Certain information in this News Release may constitute
"forward-looking" information that involves known and unknown
risks, uncertainties, future expectations and other factors which
may cause the actual results, performance or achievements of the
Company or industry results, to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking information. When used in this News Release,
this information may include words such as "anticipate",
"estimate", "may", "will", "expect", "believe", "plan" and other
terminology. This information reflects current expectations
regarding future events and operating performance and speaks only
as of the date of this News Release. Except as required by law, we
assume no obligation to update or revise forward-looking
information to reflect new events or circumstances. Additional
information is available in the Company's Management Discussion and
Analysis, which can be found on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
MTY Food Group Inc.
_____________________________________
Eric Lefebvre, CEO
SOURCE MTY Food Group Inc.