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MTY Food Group Inc. MTY-T is raising its quarterly dividend.

The franchisor and operator of restaurants says it will now pay a quarterly dividend of 21 cents per share on Feb. 15 to shareholders of record on Feb. 3.

The payment is up from its previous quarterly dividend of 18.5 cents per share.

The stock will have an annual yield of 1.5 per cent based on the new dividend rate and the company’s share price on Monday.

MTY chief executive Eric Lefebvre says the company’s free cash flow generation abilities are robust and it is confident in the future despite the challenges COVID-19 restrictions still pose.

MTY has more than 80 restaurant brands including Thai Express, Tiki-Ming and Tutti Frutti.

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