Meritage Announces Fourth Quarter Common Stock Dividend; Sixty Percent Full-Year Dividend Growth
MERITAGE HOSPTLTY GRP INC (MHGU)
NASDAQ:AMEX Investor Relations:
meritagehospitality.com/investor-relations
Company Research
Source: GlobeNewswire
GRAND RAPIDS, Mich., Nov. 12, 2019 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), one of the nation’s premier restaurant operators, today announced that the Company’s Board of Directors approved a special quarterly dividend of $0.06 per share at the November 12, 2019 meeting. The dividend is payable on December 10, 2019, to shareholders of record on November 27, 2019. “The common stock dividends declared for the full-year represent an increase of 60% over the prior year, as we continue to reward shareholders commensurate with our earnings growth. An increase of 60% was at the high end of our target range for the year. The Company recently announced results for the nine months ended September 29, sales increased 5.75% to a record $346.4 million and Consolidated EBITDA (a non-GAAP measure) increased 18.7% to $35.2 million. During the year, the Company acquired 10 Wendy’s restaurants and is currently planning to open a new Wendy’s restaurant every two weeks throu
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