MTY Food Group Raises Quarterly Dividend By 19%

MTY Food Group (MTY) is raising its quarterly dividend by 19%.

Going forward, the Montreal-based company will pay shareholders a quarterly dividend of 25 cents per share, up from 21 cents previously.

The company’s dividend yield will increase to 1.6% based on the current share price.

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MTY Food said the increased dividend reflects the strength of its finances and the recovery it has made since the COVID-19 pandemic.

MTY Food Group owns and operates restaurants under 90 different brands, including Manchu Wok, Thai Express, and the Baton Rouge Steakhouse.

MTY Food’s stock has risen 16% over the last year to trade at $64.44 per share