Tim Horton's Dividend Steady at $0.26

Restaurant chain converts payout from Canadian dollars to U.S. dollars at prevailing currency rates.

By Rich Duprey – May 8, 2013 at 10:33AM EST

Canadian restaurant chain Tim Horton's (THI +0.00%) declared today its regular quarterly dividend of $0.26 per share, slightly higher than the $0.2534 per share it paid back in February.

The board of directors said the dividend is payable on June 7 to the holders of record at the close of business on May 23.

Canadian shareholders receive their declared dividends in Canadian dollars while U.S. shareholders have their dividends converted to U.S. dollars based on prevailing exchange rates at the time of conversion.

The new dividend payment annualizes to $1.04 per share and yields 1.8% based on the closing price of Tim Horton's stock on May 7.

THI Dividend data by YCharts.

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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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Tim Horton's Dividend Steady at $0.26

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