Tim Hortons Declares First Dividend

The Star:

Food empire reports Q2 profit rose to $76.3M from $60.9M

Coffee and food retailer Tim Hortons Inc. (TSX: THI) has posted a 25 per cent improvement in second-quarter profits to $76.3 million and served up its first-ever quarterly dividend of seven cents per share to shareholders.

The Oakville-based company, part of which was spun off earlier this year from U.S. parent corporation Wendy’s International Inc. (NYSE: WEN), said its net earnings amounted to 39 cents per diluted share, compared to 38 cents per share in the year-earlier period.

“We are pleased to have delivered another solid quarter with good top-line growth,” said president and CEO Paul House.