Common Stock Special Dividend
Following the Annual Shareholders Meeting, the Company’s Board of Directors approved a quarterly dividend of
“Our sales and operating earnings outlook remain strong for the second half of the year, with food and labor inflation pressures moderating. We are focused on integrating the 25 Wendy’s restaurants acquired last week in
2023 Full-Year Outlook: Stronger Operating Second Half
The Company has allocated significant capital resources to the Wendy’s and Taco John’s brands, committing to combined development agreements for 100 new locations through 2025.
2023 Outlook: Strong Earnings Growth Ahead:
- Sales +10% to +20%
- Earnings from Operations. +90% to +100%
- Net Income +35% to +45%
- EBITDA +20% to + 30%
The Company is focused on delivering quality, convenience, and affordability, while leveraging its best-in-class operating platform.
About the Company
The Company’s current and publicly available information pursuant to SEC Rule 15c2-11 and FINRA Rule 6432 can be found at www.otcmarkets.com, under the stock symbol MHGU/Disclosures or the Company’s website, www.meritagehospitality.com.
SAFE HARBOR STATEMENT
Certain information in this new release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company’s Safe Harbor Statement at http://www.meritagehospitality.com.
CONTACT:
(616) 776-2600
Source:
2023 GlobeNewswire, Inc., source