Tim Hortons Q3 Profit Rises, Declares Dividend - Quick Facts

(RTTNews) - Canadian quick-service restaurant chain Tim Hortons, Inc. (THI, THI.TO) posted third-quarter net income of C$113.86 million or C$0.75 per share, higher than C$105.70 million or C$0.68 per share in the prior-year quarter.

On average, 14 analysts polled by Thomson Reuters expected earnings per share of C$0.77 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the quarter grew 2.9 percent to C$825.35 million from C$802.04 million in the same quarter last year. Seven Wall Street analysts had a consensus revenue estimate of C$825.93 million.

Tim Hortons' system-wide sales for the quarter rose 5.3 percent on a constant currency basis, resulting from new restaurant development as well as same-store sales growth in Canada and the U.S. Same-store sales in Canada grew 1.7 percent and U.S. same-store sales increased 3.0 percent.

Separately, Tim Hortons' board of directors also declared a quarterly dividend of C$0.26 per share, payable on December 10 to shareholders of record as of the close of business on November 25, 2013.