Feb. 23, 2012
/PRNewswire/ - Tim Hortons Inc. (TSX: THI) (NYSE: THI) today announced the Board of Directors has approved a 23.5% increase in the quarterly dividend to
per common share, which is within our targeted payout range of 30% to 35%.
The Board has declared a dividend at the new payout rate of
per common share, payable on
, 2012, to shareholders of record as of
Dividends are declared and paid in Canadian dollars to all shareholders with Canadian resident addresses. For U.S. shareholders, the dividends will be converted to, and paid in, U.S. dollars based on prevailing exchange rates at the time of conversion by
for registered shareholders and by Clearing and Depository Services Inc. for beneficial shareholders. The payment of future dividends and the targeted payout range remain at the discretion of the Board of Directors.
Tim Hortons Inc. Overvi
is one of the largest publicly-traded restaurant chains in
based on market capitalization, and the largest in
. Operating in the quick service segment of the restaurant industry,
appeals to a broad range of consumer tastes, with a menu that includes premium coffee, espresso-based hot and cold specialty drinks including lattes, cappuccinos and espresso-flavoured shots, specialty teas, fruit smoothies, home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods, including our trademark donuts. As of
had 4,014 systemwide restaurants, including 3,295 in
, 714 in
the United States
and 5 in the Gulf Cooperation Council. More information about the Company is available at
SOURCE Tim Hortons Inc.