TSX: MFI
www.mapleleaffoods.com
MISSISSAUGA, ON, Jan. 10,
2025 /PRNewswire/ - Maple Leaf Foods Inc.
("Maple Leaf Foods" or the "Company") (TSX: MFI), an iconic
Canadian protein company, announced today that it is
increasing its quarterly cash dividend by 9% from $0.22 per share to $0.24 per share, or $0.96 per share annually. With this increase, the
dividend payment for the first quarter of 2025 will be $0.24 per common share, payable on March 31, 2025, to shareholders of record at the
close of business on March 7,
2025.
"I'm pleased to announce that for the tenth consecutive year,
Maple Leaf Foods is delivering an increase in its quarterly
dividend," said Curtis Frank,
President and CEO. "We are proud of our long history of sustainable
dividend growth supported by the execution of our strategic
Blueprint as we continue to meet the rising consumer demand for
protein."
The Company's Dividend Reinvestment Plan ("DRIP") permits
eligible shareholders to direct their cash dividends to be
reinvested in additional common shares of the Company. The Company
is eliminating the 2% discount on the treasury shares issued under
the DRIP starting with this 2025 first quarter dividend. Therefore,
for shareholders who wish to reinvest their dividends under the
DRIP, Maple Leaf Foods intends to issue common shares from treasury
at a price equal to 100% of the weighted average closing price of
the shares for the five trading days preceding the dividend payment
date. Full details of the DRIP, including how to enroll in the
program, are available at
https://www.mapleleaffoods.com/.
Unless indicated otherwise by the Company at or before the time
the dividend is paid, the dividend will be considered an eligible
dividend for the purposes of the "Enhanced Dividend Tax Credit
System".
About Maple Leaf Foods Inc.
Maple Leaf Foods is a leading protein company responsibly
producing food products under leading brands including Maple
Leaf®, Maple Leaf Prime®, Maple Leaf Natural
Selections®, Schneiders®,
Schneiders® Country Naturals®,
Mina®, Greenfield Natural Meat Co.®,
LightLife® and Field Roast™. The Company employs
approximately 13,500 people and does business primarily
in Canada, the U.S. and Asia. The Company is
headquartered in Mississauga, Ontario and its shares
trade on the Toronto Stock Exchange (MFI).
Forward Looking Statements
This release contains
certain information that is forward-looking and is subject to
important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "believe",
"may", "will", "should", "estimate", "intend" or other similar
words). Forward-looking statements in this document are intended to
provide Maple Leaf Foods security holders and potential investors
with information regarding the Company, including management's
assessment of the Company's future plans. All forward-looking
statements reflect the Company's beliefs and assumptions based on
information available at the time the statements were made and as
such are not guarantees of future performance. As actual results
could vary significantly from the forward-looking information,
readers should not put undue reliance on forward-looking
information. For additional information on the assumptions made,
and the risks and uncertainties which could cause actual results to
differ from the anticipated results, refer to the Company's
Management Discussion and Analysis for the quarter ended
September 30, 2024 and the year ended
December 31, 2023, both of which are
filed on SEDAR+ at www.sedarplus.ca. The Company does not intend
to, and disclaims any obligation to, update any forward-looking
statements (including any financial outlooks), whether written or
oral, or whether as a result of new information, future events or
otherwise, except as required by law.
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SOURCE Maple Leaf Foods Inc.