Mr. Ken Grondin reports
RECIPE UNLIMITED CORPORATION DECLARES SECOND QUARTER DIVIDEND OF 11.21 CENTS PER SHARE
The board of directors of Recipe Unlimited Corp. has declared a quarterly dividend of 11.21 cents per share on the corporation's outstanding subordinate voting shares and multiple voting shares, or approximately $6.8-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 the continuation of its normal course issuer bid (NCIB) and increases to its dividend rate.
Payment of the dividend will be made on Sept. 13, 2019, to shareholders of record at the close of business on Aug. 30, 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.
About Recipe Unlimited Corp.
Founded in 1883, Recipe (formerly Cara Operations) 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. As at June 30, 2019, Recipe had 22 brands and 1,384 restaurants, 85 per cent of which are operated by franchisees and joint venture partners.
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