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Montreal's MTY Food Group posts Q3 results, raises dividend 35%
Montreal-based restaurant franchising giant MTY Food Group (TSX:MTY) reported fiscal Q3 2026 results on October 9: net income of $24.8 million, adjusted EPS of $1.26, system sales steady at $1.5 billion. The company raised its quarterly dividend 35% to $0.50 per share and ended its strategic review, confirming an independent path.
Why it matters
MTY is one of Canada's largest restaurant franchisors, with 80+ banners and 7,000+ locations across Canada, the US and internationally. US same-store sales fell 2.7% in Q3 as the company accelerates toward an asset-light franchising model, using a 35% dividend hike to signal confidence.
Full report
MTY reported third-quarter results for the 13 weeks ended August 30, 2026: segment profits of $59.9 million; net income of $24.8 million ($1.08 per diluted share), down from $27.9 million ($1.22) a year earlier; adjusted EPS of $1.26 versus $1.19. System sales held steady at $1.5 billion, while same-store sales fell 1.9% (Canada roughly flat, US down 2.7%, International down 9.1%).
The company closed 74 net stores, 50 of them under the corporate-store cleanup program; corporate stores now represent 2.6% of the network versus 3.6% last year. Free cash flow net of lease payments rose to $28.5 million ($1.25 per share) from $25.8 million.
Management said the strategic review concluded that operating independently offers the best value-creation path, raised the quarterly dividend 35% to $0.50 per share, restored its normal-course issuer bid and may launch a substantial issuer bid. Shares closed at C$31.15 on October 9, up about 3%.
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