08:51:13 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Imvescor Restaurant Group Inc
Symbol IRG
Shares Issued 45,050,198
Close 2014-10-23 C$ 1.50
Market Cap C$ 67,575,297
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Imvescor to start paying two-cent quarterly dividend

2014-10-24 09:34 ET - News Release

Mr. Frank Hennessey reports

IMVESCOR ADOPTS DIVIDEND POLICY

Imvescor Restaurant Group Inc., further to its previously announced review of the capital allocation policy of the company, has adopted a dividend policy providing for the payment of a quarterly dividend of two cents per share. The dividend policy has been designed to allow sufficient flexibility to continue investing in the company's growth and its franchise network while providing returns to its shareholders.

"We are very pleased to be able to implement this dividend policy," said Frank Hennessey, president and chief executive officer of the company. "Given our business model, we are in a position to return cash to our shareholders, while retaining financial flexibility to make significant investments in the health of our franchised restaurant brands. The long-term health of our franchise owners remains our top priority, and key strategic investments will help reignite growth for both our franchisees and the company."

The board of directors expects to declare the first dividend of two cents per share in the coming weeks. The first regular quarterly dividend is expected to be declared concurrently with the release of the company's results for the fourth quarter of its 2014 financial year, with following dividends to be declared quarterly concurrently with the release of the company's results.

The declaration and payment of any dividend remain at the discretion of the board of directors, and will depend on the company's cash requirements, financial results, future prospects and other factors deemed relevant by the board of directors. Any dividend policy established by the board of directors can be changed at any time, and such policy is not binding on the company. There can be no guarantee that the company will maintain its current dividend policy or that any dividend will be declared or paid.

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