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Restaurant Brands International reports Q4 profit and revenue down from year earlier

Increased payment to shareholders
The Canadian Press
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A Tim Hortons employee hands out coffee from a drive-through window to a customer in Mississauga, Ont., on March 17, 2020. THE CANADIAN PRESS/Nathan Denette

TORONTO — Restaurant Brands International Inc. reported its fourth-quarter profit and revenue fell compared with a year ago.

The company, which operates Tim Hortons, Burger King and Popeyes, also raised its quarterly dividend by a penny to 53 cents US per share.

The increased payment to shareholders came as Restaurant Brands, which keeps its books in U.S. dollars, reported net income attributable to common shareholders and non-controlling interests of US$138 million or 30 cents per diluted share for the quarter ended Dec. 31.

The result compared with a profit of US$255 million or 54 cents per share a year earlier.

Revenue totalled US$1.36 billion, down from US$1.48 billion.

On an adjusted basis, Restaurant Brands says it earned U$247 million or 53 cents per share for the quarter, down from an adjusted profit of US$351 million or 75 cents per share a year earlier.

This report by The Canadian Press was first published Feb. 11, 2021.