TSX Trading Symbol: "MTY"
MONTREAL, Jan. 24, 2017 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of multiple concepts of restaurants, announces that it intends to maintain its quarterly dividend at its current level of $0.115 per quarter for 2017. The dividend will be paid on February 15, 2017 to shareholders registered in the Company's records at the end of the business day on February 3, 2017.
"After declaring its first dividend payment in 2010, MTY has consistently increased the distributions to its shareholders on a yearly basis, going from a payment of $0.045 in 2010 per quarter to $0.115 per quarter in 2016." says Stanley Ma. "This year, following the addition of Kahala and Baja to our portfolio, and of the debt related to those acquisitions, MTY will concentrate its efforts on building financial flexibility for future acquisitions that will create more value for our shareholders."
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.
Stanley Ma, Chairman, President & CEO
SOURCE MTY Food Group Inc.
For further information: Eric Lefebvre, Chief Financial Officer at 1-514-336-8885 ext: 288 or by email at [email protected], or visit our website: www.mtygroup.com or SEDAR's website at www.sedar.com under the Company's name.