MISSISSAUGA, Ont. – Maple Leaf Foods Inc. is raising its quarterly dividend by nine per cent as it works to complete a spin off its pork business.
The company says it will pay a quarterly dividend of 24 cents per share, up from 22 cents.
The increased payment will be made on March 31 to shareholders of record at the close of business on March 7.
Maple Leaf is working to spin off its pork business into a new, publicly traded company to be called Canada Packers Inc. this year.
The company is planning to hold a shareholder meeting in June to approve the transaction, which would allow closing to occur once it receives a required ruling from the Canada Revenue Agency.
Maple Leaf says that assuming these approvals are received that the plan is on pace to close in the second half of 2025.
This report by The Canadian Press was first published Jan. 10, 2025.
Companies in this story: (TSX:MFI)
