Tim Hortons parent company Restaurant Brands International (TSX:QSR) raised its dividend as it reported fourth-quarter profits and revenues that beat analyst expectations.
The company, which keeps its books in U.S. dollars, says it will pay a quarterly dividend of $0.54 U.S.
per share, up from $0.53 U.S. previously.
Restaurant Brands International, which also owns Burger King, Popeyes Louisiana Kitchen and
Firehouse Subs, said its net income totaled $179 million U.S. or $0.57 U.S. per share for the quarter
ended December 31, up from $91 million U.S. or $0.30 U.S. per share a year earlier.
Revenue for the fourth quarter amounted to $1.55 billion U.S., up from $1.36 billion U.S. in the last three months of 2020.
On an adjusted basis, Restaurant Brands International said it earned $0.74 per share in its latest quarter, up from an adjusted profit of $0.53 U.S. a share a year earlier.
Analysts, on average, had expected an adjusted profit of $0.69 U.S. per share and $1.52 billion U.S. in
revenue in Q4, according to data firm Refinitiv.
