Not even higher prices stop Canadians from loving Tim Hortons
Unseasonably warm winter weather has been a boon to Tim Hortons this year, driving up the national coffee icon’s fourth-quarter profit by 32 per cent. In addition, new promotions (as if rollin’ up the rim weren’t a stand-alone winner) have offset the effect of price increases in Quebec, Manitoba, the Atlantic provinces and B.C. introduced earlier this year. Prices in Ontario had already been raised by roughly four per cent in August.
Good news for investors: Tim Hortons Inc. is paying out a quarterly dividend of 13 cents a share, with plans to buy back up to five per cent of its stock this year, having earned a profit of $91 million. Truly a great day for dough nuts.
• Dividend hike, buyback ahead for Tim’s [Financial Post]
• Tim Hortons rolls up profits, lifts payout, to buy back stock [Toronto Star]