Cara increases dividend by 25 percent.TORONTO--(BUSINESS WIRE)--Dec. 8, 1995--(TSE/ME:CAO.A;CAO) The Board of Directors of Cara Operations Cara Operations Limited is a Canadian company that provides catering services to airlines and operates several restaurant and coffee shop chains including: Harvey's, Swiss Chalet, Kelsey's , Milestones and Montana's. The company is based across from Lester B. Ltd. announced Friday, the declaration of a dividend of 5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , payable on Dec. 29, 1995 to shareholders of record of Common and Class A non-voting shares of the corporation at the close of business on Dec. 15, 1995. The 5 cents per share dividend represents a 25 percent increase over the previous dividend of 4 cents per share paid in June 1995 and constitutes a total dividend of 9 cents per share for the current fiscal year. The increase in the dividend rate reflects Cara's strong performance to-date in the current fiscal year. At the end of the second quarter ended Sept. 17, 1995, net earnings at $14.4 million were 18 percent ahead of last year for the same period. The Board also determined that it would, in future, alter its historical practice of considering and paying a dividend in the month of December, by considering and paying a dividend in conjunction with the Board's review and release of third quarter financial results in January of each year, with the result that the dividend historically paid in December of each calendar year will henceforth From this time forward. The term henceforth, when used in a legal document, statute, or other legal instrument, indicates that something will commence from the present time to the future, to the exclusion of the past. be anticipated to be paid in January. The Corporation does not intend to alter its current practice of considering and paying a dividend in the month of June. -0- Company Profile Swiss Chalet
Swiss Chalet is a chain of Canadian family restaurants originally founded in 1954 in Toronto, Ontario. - Family style restaurants featuring barbeque rotisserie chicken and ribs. Harvey's - Quick service charbroiled hamburger restaurants. Airport Services - Caterer to major Canadian and international airlines. Concessionaire of airport restaurants, bars, gift stores and newsstands. Beaver beaver, either of two large aquatic rodents, Castor fiber and Castor canadensis, known for their engineering feats. They were once widespread in N and central Eurasia except E Siberia, and in North America from the arctic tree line to the S United Foods Ltd. - Business and institutional contract caterer. Summit Food Services food services Hospital services A 24/7 department in a hospital that provides for the nutritional needs of inpatients–eg, those needing special diets, preparing meals and transporting them to the floor and, through the cafeteria, the hospital staff and Distributors Inc. - Wholesale food distributor. Grand & Toy - Retailer and commercial contract distributor of office products. Pride in Quality - Pride in Service CONTACT: Cara Operations, Toronto Michael Nahirny, 416/962-4571, fax: 416/969-2547 INDUSTRY KEYWORD: DIVIDEND RESTAURANTS FOODS/BEVERAGES RETAIL REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-236-4266 or 80 |
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