Mr. Ken Grondin reports
RECIPE UNLIMITED CORPORATION DECLARES FOURTH QUARTER DIVIDEND - DIVIDEND INCREASES 5% TO 11.21 CENTS PER SHARE
The board of directors of Recipe Unlimited Corp. (formerly Cara Operations Ltd.) has declared a quarterly dividend of 11.21 cents per share, an increase of 5 per cent, on its outstanding subordinate voting shares and multiple voting shares, or approximately $6.9-million in aggregate.
With Recipe's strong balance sheet and growing cash flows, management will continue to pursue strategic acquisitions and will explore alternatives to return more capital to its shareholders, including continuation of its normal course issuer bid (NCIB) and increases to its dividend rate.
Payment of the dividend will be made on April 15, 2019, to shareholders of record at the close of business on March 29, 2019. Recipe has designated this dividend as an eligible dividend within the meaning the Income Tax Act (Canada) and all provisions of provincial laws applicable to eligible dividends.
Founded in 1883, Recipe Unlimited is Canada's oldest and largest full-service restaurant company. The company franchises and/or operates some of the most recognized brands in the country, including Swiss Chalet, Harvey's, St-Hubert, The Keg, Milestones, Montana's, Kelsey's, East Side Mario's, New York Fries, Prime Pubs, Bier Markt, Landing, Original Joe's, State & Main, Elephant & Castle, The Burger's Priest, The Pickle Barrel and 1909 Taverne Moderne.
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