Imvescor Restaurant Group Inc. (TSX: IRG) is a Montreal, Canada-based franchise and licensing company. The company’s operating segments include Franchising, Manufacturing and Corporate.
Earlier this week, IRG reported its financial results for the quarter ended May 1, 2016. The company also declared a quarterly dividend.
IRG’s Board of Directors declared a dividend f $0.0225 per common share. The quarterly cash dividend will be paid on July 6, 2016 to shareholders of record as of the close of business on June 22, 2016. IRG currently offers a dividend yield of 3.32%.
For the quarter, IRG reported a 32% increase in its system sales. Same restaurant sales for the quarter rose 1.2%, an improvement of 1.4 percentage compared to the same period in the previous year.
IRG’s revenue for the quarter rose 24%. EBITDA for the quarter was $4.1 million, representing an increase of 7% on a year-over-year basis.
Frank Hennessey, President & CEO at Imvescor Restaurant Group, said that the second quarter of its fiscal 2016 was again demonstrative of the initial success of its strategic plan.
