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Mty Food Group Inc. announced plans to repurchase shares and raise its dividend following a strategic review that identified few suitable acquisition targets. The Montreal-based company, which operates various restaurant franchises, stated it will instead focus on optimizing its brand portfolio, becoming more asset-light in franchising, and streamlining operations.
The company plans to restore its regular issuer bid process and consider substantial issuer bids, allowing shareholders to benefit from the value returned. Additionally, Mty Food Group will increase its quarterly dividend from 37 cents per share to 50 cents per share.
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