Tim Hortons Inc. increases quarterly dividend by 23.8% and declares a dividend of $0.26 per common share
Tim Hortons Inc. increases quarterly dividend by 23.8% and declares a dividend of $0.26 per common share OAKVILLE, ON, Feb. 21, 2013 /CNW/ - Tim Hortons Inc. today announced that its Board of Directors has approved a higher targeted annual dividend payout range of 35% to 40% of prior year, normalized net income attributable to Tim Hortons Inc. The previous targeted payout range was 30% to 35% of prior year, normalized net income attributable to Tim Hortons Inc. Coinciding with this change, the Board has approved a 23.8% increase in the quarterly dividend.
The auto parts maker said it would increase its quarterly dividend to 25 cents US per share, up from 18 cents.