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Pizza Pizza Maintains Monthly Dividend, Keeps Yield Above 7%
Canadian restaurant chain Pizza Pizza Royalty Corp. (PZA) has declared a monthly dividend of $0.0775 per share.
The new dividend is unchanged and payable to shareholders of record on Aug. 30 of this year. It will be distributed on Sept. 13.
Pizza Pizza’s dividend continues to earn shareholders $0.23 per share each quarter or $0.93 a share annually.
The annual yield on Pizza Pizza’s stock is currently 7.18%, making it one of the most generous distributions among Canadian stocks.
A going concern since 1967, Pizza Pizza today has more than 500 quick-service restaurant locations across Canada. It focuses mostly on pizza delivery to homes.
The company has long been a dividend powerhouse, paying distributions to shareholders on a monthly rather than quarterly basis as is the practice with most stocks.
The stock of Pizza Pizza Royalty Corp. has declined 12% in the last year to trade at $12.95 per share. The share price has gained 31% over the past five years.
