Key Developments: Burger King Worldwide Inc (BKW)
18.59USD
17 May 2013
$-0.26 (-1.38%)
$18.85
$18.85
$18.95
$18.55
711,370
816,214
$20.20
$12.91
Latest Key Developments (Source: Significant Developments)
Burger King Worldwide Inc Announces Authorization OF $200 Million Share Repurchase Program
Burger King Worldwide Inc announced that the Board authorized the repurchase of up to $200 million of the Company`s common stock. The share repurchases will be made in the open market from time to time prior to May 31, 2016, and will be funded from available cash. Full Article
Redberry Investments Corp. Acquires 94 Burger King Worldwide Inc's Restaurants In Canada
Burger King Worldwide Inc announced the sale of its Canadian subsidiary Burger King Restaurants of Canada (BKRC), including 94 Company owned BURGER KING restaurants in the Canada market to Redberry Investments Corp. (Redberry), which is privately owned and operated by three shareholders, Robert Laverdure, Andreas Kragaris and Christian LeBrun. Through its ownership of BKRC, Redberry is the brand's master franchisee in Canada. Full Article
Burger King Worldwide, Inc. Announces Resignation Of Bernardo Hees As Chief Executive Officer-Form 8-K
Burger King Worldwide, Inc. announced that on April 8, 2013, Bernardo Hees, Chief Executive Officer of the Company and a member of the Board and the Executive Committee of the Board (the Executive Committee), advised the Company of his decision to resign as Chief Executive Officer to accept a position as Chief Executive Officer of H.J. Heinz Company, effective upon the earlier to occur of July 1, 2013 and the completion of the acquisition of H.J. Heinz Company by an investment consortium comprised of Berkshire Hathaway and an investment fund affiliated with 3G Capital Partners, Ltd. Upon his resignation as Chief Executive Officer, Mr. Hees will remain on the Board as Vice Chairman and as a member of the Executive Committee. Full Article
Burger King Worldwide Inc Increases Cash Dividend
Burger King Worldwide Inc announced that the Board declared a cash dividend of $0.06 per share, a 20% increase from the previous dividend of $0.05 per share declared on February 14, 2013. The dividend is payable on May 15, 2013 to shareholders of record at the close of business on May 1, 2013. Full Article
Burger King Worldwide Inc Issues Q1 2013 EPS Guidance In Line With Analysts' Estimates
Burger King Worldwide Inc announced that for the first quarter of 2013, it expects adjusted diluted EPS of approximately $0.17. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.16 for the first quarter of 2013. Full Article
Alsea SAB de CV Acquires Master Franchise Of Burger King Worldwide Inc's Burger King Restaurants In Mexico
Alsea SAB de CV (Alsea) announced that it has concluded the process of acquiring the master franchise of the BURGER KING brand in Mexico. The acquisition was concluded in accordance with all conditions agreed to and with the authorization of the Antitrust Commission. Pursuant to the Joint Venture Agreement reached between Alsea and Burger King Worldwide Inc (BKW), the BKW subsidiary in Mexico was merged into Operadora de Franquicias Alsea S.A. de C.V. (OFA), an Alsea subsidiary, which will become the merged company and the operator of 204 BURGER KING restaurants in Mexico. Upon completion of the merger, Alsea acquired an additional 28.1% of the outstanding shares of OFA owned by BKW, bringing Alsea’s stake in OFA to 80%, with BKW retaining the remaining 20% stake in OFA. Full Article
Burger King Worldwide, Inc. Announces Cash Dividend
Burger King Worldwide, Inc. announced that on February 14, 2013 the Company's Board of Directors declared a cash dividend of $0.05 per share, a 25% increase from the previous dividend of $0.04 per share. The dividend will be paid on March 15, 2013 to shareholders of record at the close of business on February 28, 2013. Full Article
Burger King Worldwide, Inc. and Alsea, S.A.B. de C.V. Sign New Joint Venture to Significantly Expand Brand Presence in Mexico
Burger King Worldwide, Inc. announced that it has entered into a joint venture agreement for Mexico with Alsea, S.A.B. de C.V. focused on significantly increasing the BURGER KING brand presence in this important market. As part of the transaction, ALSEA and BKW will contribute their BURGER KING restaurants in Mexico to form a joint venture through a merger of BKW’s Mexican subsidiary into Operadora de Franquicias Alsea S.A. de C.V. (OFA). The new company will own 203 BURGER KING restaurants in Mexico and has committed to open several hundred more over the next several years. As part of the joint venture, OFA will acquire the following rights and obligations: Acquisition of 97 BURGER KING restaurants, bringing ownership count to 203 BK restaurants; Operating control of the BURGER KING brand throughout all of Mexico; Exclusivity in Mexico for 20 years; Collection of royalties from sub-franchisees; An annual development plan that includes the opening of new corporate and sub-franchised BURGER KING restaurants over the next 20 years; and In exchange for a cash payment to BKW, ALSEA will maintain a majority stake in the joint venture, while BKW will maintain the minority stake. Full Article
Grand Parade Investments Ltd's Utish Investments (Pty) Ltd Enters Into Joint Venture With Certain Subsidiaries Of Burger King Worldwide, Inc
Grand Parade Investments Ltd announced that the wholly owned group subsidiary, Utish Investments (Pty) Ltd (“Utish”), has entered into a joint venture (subject to the fulfillment of certain conditions precedent, including the approval of the South African Reserve Bank) with certain subsidiaries of Burger King Worldwide, Inc (“Burger King”) to form Burger King South Africa (Pty) Ltd (“BKSA”) (“Joint Venture”). In terms of the Joint Venture, BKSA will hold the master franchise for the Republic of South Africa and have exclusive rights to develop and expand the BURGER KING brand in this country. BKSA plans to open the first BURGER KING restaurant in the first half of 2013. The Joint Venture, of which GPI will have a majority shareholding, will be funded from existing cash resources and new debt. Full Article
Burger King Worldwide, Inc. Declare Initiation Of Quarterly Cash Dividend
Burger King Worldwide, Inc. announced that Board of Directors has approved the initiation of a quarterly cash dividend. On October 28, 2012, the Board declared the company`s first quarterly cash dividend of $0.04 per share, which will be paid on November 29, 2012 to shareholders of record at the close of business on November 9, 2012. Future dividends will be determined at the discretion of the Board of Directors. Full Article
Burger King stock up on profit view, CEO going to Heinz
- Burger King Worldwide Inc forecast a slightly higher quarterly profit on Thursday than Wall Street expected, even though spending among fast-food diners remains weak.
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