#Canada #dividend increase #Mississauga #Maple Leaf Foods #MFI

Maple Leaf Foods Declares a 9% Increase in Quarterly Dividend

Maple Leaf Foods Inc., a prominent Canadian protein producer, has recently announced a noteworthy increase in its quarterly dividend. Following a sustained effort to support its shareholders, the company will raise its dividend by 9%, transforming it from $0.22 to $0.24 per share. This marks the tenth consecutive year of dividend growth for Maple Leaf Foods, reflecting its ongoing commitment to delivering shareholder value.

Dividend Details

The new dividend rate translates to an annual payment of $0.96 per share. For the first quarter of 2025, the dividend will be disbursed on March 31, 2025, to shareholders recorded as of March 7, 2025. In light of this change, President and CEO Curtis Frank expressed pride in the company's tradition of sustainable dividend growth, which is underpinned by successful strategic initiatives aimed at meeting the increasing consumer appetite for protein-based products.

Strategic Growth and Investment

Maple Leaf Foods has developed a Dividend Reinvestment Plan (DRIP), which allows eligible shareholders to reinvest their cash dividends into additional shares. Starting from this quarter, the company will no longer offer a 2% discount on treasury shares issued through the DRIP. Eligible shareholders who opt to reinvest will receive shares at a price equivalent to the average closing price during the five trading days preceding the payment date.

In addition to this positive move for dividends, the company emphasizes its long-standing goal of sustainable growth and innovation. The announcement aligns with Maple Leaf's business strategy, known as the Blueprint, aiming to enhance its operational efficiencies and expand its market reach. The strong performance in both Canadian and international markets reinforces the confidence stakeholders have in the company.

A Leader in the Protein Sector

Maple Leaf Foods operates under several well-known brand names, including Maple Leaf®, Maple Leaf Prime®, and Schneiders®. Its diverse product offerings cater to a broad range of consumer preferences, positioning it as a leader in the protein sector. The company employs approximately 13,500 individuals across Canada, the U.S., and parts of Asia, contributing not only to the economy but also to the sustainable food supply.

Forward-Looking Statements

While optimistic about its future, Maple Leaf Foods has also issued forward-looking statements, which are inherently subject to risks and uncertainties. Investors and stakeholders are encouraged to refer to the Company’s Management Discussion and Analysis for a comprehensive view of potential future risks and performance indicators. Despite fluctuations in market conditions, the company remains committed to pursuing innovative strategies and maintaining its reputation in the protein market.

Maple Leaf Foods continues its path of growth and transformation, ensuring that it not only meets the demands of today's consumers but also invests in the long-term wellbeing of the business and its shareholders. With this latest dividend increase, the company reaffirms its commitment to delivering excellent financial returns while upholding its dedication to sustainability and quality.

For further details about the Dividend Reinvestment Plan, potential investors can visit the official Maple Leaf Foods website at https://www.mapleleaffoods.com.

This article includes forward-looking statements that are meant to provide stakeholders with insights into Maple Leaf Foods’ future plans and outlook. Actual results may significantly differ from those anticipated depending on varying factors though the company aims to consistently deliver strong results, guided by its strategic initiatives.