Restaurant Brands Q4 profit and sales up, raises quarterly dividend

TORONTO — Tim Hortons parent company Restaurant Brands International Inc. raised its dividend as it reported its fourth-quarter profit and revenue rose compared with a year ago and topped expectations.

The company, which keeps its books in U.S. dollars, says it will pay a quarterly dividend of 54 cents per share, up from 53 cents.

RBI, which also includes Burger King, Popeyes Louisiana Kitchen and Firehouse Subs, says its net income attributable to common shareholders totalled US$179 million or 57 cents per diluted share for the quarter ended Dec. 31, up from US$91 million or 30 cents per diluted share a year earlier.

Revenue for the quarter totalled US$1.55 billion, up from US$1.36 billion in the last three months of 2020.

On an adjusted basis, RBI says it earned 74 cents per diluted share in its latest quarter, up from an adjusted profit of 53 cents per diluted share a year earlier.

Analysts on average had expected an adjusted profit of 69 cents per share and US$1.52 billion in revenue, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Feb. 15, 2022.

Companies in this story: (TSX:QSR, TSX:QSP)

The Canadian Press