Restaurant operator Tim Horton's (UNKNOWN:THI.DL) announced today its third-quarter dividend of $0.26 Canadian per share, the same rate it's paid for the past three quarters after raising the payout 24% from $0.21 per share.

The board of directors said the quarterly dividend is payable on September 4 to the holders of record at the close of business on August 19. Dividends are paid in Canadian dollars to all shareholders with Canadian resident addresses. For U.S. shareholders, dividends paid will be converted to U.S. dollars based on prevailing exchange rates at the time of conversion.

The regular dividend payment equates to a $1.04 Canadian-per-share annual dividend, yielding 1.8% based on the closing price today of Tim Horton's stock.

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