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MTY Food Group Inc. MTY-T is raising its quarterly dividend by 19 per cent.

The company says its quarterly dividend will increase to 25 cents per share from 21 cents.

The shares will have an annual yield of about 1.6 per cent based on MTY’s closing share price of $60.72 on Tuesday.

MTY CEO Eric Lefebvre says the increased payment to shareholders shows the strength of the company’s portfolio and the rebound it has made since the onset of the pandemic.

MTY franchises and operates restaurants under about 90 different banners in Canada, the United States and internationally.

Its brands include Jugo Juice, Manchu Wok and Thai Express as well as Baton Rouge Steakhouse and Bar.

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