Key Developments: Tim Hortons Inc (THI)

THI on New York Consolidated

80.47USD
30 Oct 2014
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$0.20 (+0.25%)
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Latest Key Developments (Source: Significant Developments)

Burger King Worldwide Inc. signs agreement to acquire Tim Hortons Inc
Tuesday, 26 Aug 2014 07:30am EDT 

Tim Hortons Inc and Burger King Worldwide Inc:Reaches definitive agreement under which the two companies will create a new global powerhouse in the quick service restaurant sector.Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 common shares of the new company per Tim Hortons share.Based on Burger King's unaffected closing stock price as of Augu. 22, this represents total value per Tim Hortons share of C$89.32.Based on Burger King's closing stock price as of Aug. 25, this represents total value per Tim Hortons share of C$94.05.As an alternative, each Tim Hortons shareholder will have the ability to elect to instead receive, for each Tim Hortons share held, either (i) C$88.50 in cash or (ii) 3.0879 common shares of the new company.3G Capital is expected to own about 51 pct. of the new company.At the time of closing, Alex Behring, Executive Chairman of Burger King and Managing Partner at 3G Capital, will lead the new global company as Executive Chairman and Director.Daniel Schwartz, CEO of Burger King, will become Group CEO of the new company.Burger King has obtained commitments for $12.5 billion of financing to fund the cash portion of the transaction, including commitments for a $9.5 billion debt financing package led by JP Morgan and Wells Fargo.  Full Article

Tim Hortons Inc declares dividend
Wednesday, 6 Aug 2014 07:30am EDT 

Tim Hortons Inc:Declares dividend of $0.32 per common share payable to shareholders of record as of Aug. 18.Dividend is payable on Sept. 3.  Full Article

Tim Hortons Inc sees FY 2014 EPS guidance at high end or slightly above prior range
Wednesday, 6 Aug 2014 07:30am EDT 

Tim Hortons Inc:Expects EPS for FY 2014 to be at high end, or slightly above, the company's targeted range of $3.17 to $3.27.FY 2014 EPS of $3.22 - Thomson Reuters I/B/E/S.  Full Article

Tim Hortons declares dividend of $0.32
Wednesday, 7 May 2014 07:31am EDT 

Tim Hortons Inc:Declares dividend of $0.32 per common share payable to shareholders of record as of May 22.Dividend is payable on June 5.  Full Article

Tim Hortons Inc and CIBC announce agreement to launch co-branded loyalty rewards Visa credit card
Thursday, 20 Feb 2014 08:30am EST 

Tim Hortons Inc:Says the company And CIBC announces an agreement to launch a co-branded credit card, which will offer instant Tim Hortons loyalty rewards to CIBC clients on their everyday spending.New CIBC Visa credit card is scheduled to launch in May 2014, and will allow cardholders to accumulate Tim Cash rewards for all purchases made on the card.That Tim Cash can then be redeemed instantly using the same card at participating Tim Hortons locations to purchase coffee, baked goods, or any other Tim Hortons offerings.  Full Article

Tim Hortons Inc announces share repurchase program for up to $440 mln
Thursday, 20 Feb 2014 07:32am EST 

Tim Hortons Inc:Plans to commence a new share repurchase program for up to $440 mln in common shares.Says not to exceed the regulatory maximum of 13,726,219 shares, representing 10 pct of the company's public float as of Feb. 14.  Full Article

Tim Hortons Inc's board approves quarterly dividend
Thursday, 20 Feb 2014 07:31am EST 

Tim Hortons Inc:Says board approves a 23.1 pct increase in the quarterly dividend to $0.32 per common share.Says dividend is payable on Mar. 18 to shareholders of record as of Mar. 3.  Full Article

Tim Hortons Inc gives FY 2014 EPS guidance below analysts' estimates; gives FY 2014 same-store sales guidance
Thursday, 20 Feb 2014 07:30am EST 

Tim Hortons Inc:Expects FY 2014 diluted earnings per share (EPS) of $3.17 to $3.27.Expects FY 2014 same-store sales growth of 1pct to 3pct in Canada and 2pct to 4pct in the U.S.FY 2014 EPS of $3.33 - Thomson Reuters I/B/E/S.  Full Article

Tim Hortons Inc announces pricing of private offering
Wednesday, 27 Nov 2013 07:30am EST 

Tim Hortons Inc:Says it has priced an offering of C$450 mln principal amount of 4.52% senior unsecured notes due Dec. 1, 2023.The offering is expected to close Nov. 29.Net proceeds from the offering are intended to be used primarily to repay indebtedness outstanding under a bridge credit facility, which is available for general corporate purposes, including share repurchases.  Full Article

Tim Hortons Inc Declares Quarterly Dividend Of $0.26 Per Common Share
Thursday, 7 Nov 2013 07:31am EST 

Tim Hortons Inc announced that the Board of Directors has declared a dividend of $0.26 per common share payable to shareholders of record as of November 25, 2013. The dividend is payable on December 10, 2013.  Full Article

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Canada competition regulator clears Burger King, Tim Hortons deal

TORONTO - Canada's Competition Bureau said on Tuesday it has approved Burger King Worldwide Inc's acquisition of Canadian coffee chain Tim Hortons Inc .

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