By The Canadian Press on February 15, 2022.
TORONTO — Tim Hortons’ parent company, Restaurant Brands International Inc., raised its dividend by announcing that its fourth-quarter earnings and revenue rose from a year ago and beat expectations.
The company, which keeps accounts in US dollars, said it would pay a quarterly dividend of 54 cents per share, down from 53 cents previously.
RBI, which also includes Burger King, Popeyes Louisiana Kitchen and Firehouse Subs, says its net income attributable to common shareholders totaled US$179 million or 57 cents per diluted share for the quarter ended Dec. 31, from $91 million. US or 30 cents per share. share diluted a year earlier.
Revenue for the quarter totaled US$1.55 billion, compared to US$1.36 billion in the last three months of 2020.
On an adjusted basis, RBI says it earned 74 cents per diluted share in its most recent quarter, compared with adjusted earnings of 53 cents per diluted share a year earlier.
Analysts on average had expected adjusted earnings of 69 cents per share and $1.52 billion in revenue, according to financial markets data firm Refinitiv.
This report from The Canadian Press was first published on February 15, 2022.
Companies in this story: (TSX:QSR, TSX:QSP)