Author: Canadian Press

MONTREAL — MTY Food Group Inc. 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.

This report by The Canadian Press was first published Jan. 22, 2025.

Companies in this story: (TSX:MTY)

The Canadian Press

TORONTO — The parent company of EQ Bank says it has filed notice of its intention to renew its stock buyback plan.

EQB Inc. says it has also received approval of the plan from the Toronto Stock Exchange, which allows it to repurchase up to 2.3 million of its common shares for the purpose of cancellation.

It says this represents approximately 8.4 per cent of the 27.3 million such shares in public hands.

EQB’s normal course issuer bid will run until Jan. 5 of next year.

Companies routinely conduct share buyback programs as a way to return capital to shareholders and to try to boost share price.

There were 38.4 million issued and outstanding common shares of the company as of Dec. 23.

This report by The Canadian Press was first published Jan. 2, 2025.

Companies in this story: (TSX:EQB)

The Canadian Press

MONTREAL — Clothing retailer Groupe Dynamite Inc. says it earned $40.4 million in its third quarter, up from $34.9 million in the same quarter last year.

Chief executive and chair Andrew Lutfy says that following a strong summer season, the company’s momentum continued into the third quarter with strong revenue and comparable store sales growth.

The company, which made its debut on the Toronto Stock Exchange last month, says the profit amounted to 38 cents per diluted share for the quarter ended Nov. 2, up from 32 cents per diluted share a year earlier.

Revenue for the quarter totalled $258.8 million, up from $220.1 million in the same quarter last year.

Comparable store sales growth for the quarter amounted to 10.1 per cent.

On an adjusted basis, Groupe Dynamite says it earned 41 cents per diluted share, up from an adjusted profit of 33 cents per diluted share a year earlier.

This report by The Canadian Press was first published Dec. 17, 2024.

Companies in this story: (TSX:GRGD)

The Canadian Press