Published on 27 Apr 2024 on Simply Wall St. via Yahoo Finance

MTY Food Group (TSE:MTY) Could Be A Buy For Its Upcoming Dividend

Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see MTY Food Group Inc. (TSE:MTY) is about to trade ex-dividend in the next 4 days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Thus, you can purchase MTY Food Group's shares before the 2nd of May in order to receive the dividend, which the company will pay on the 15th of May.

The company's next dividend payment will be CA$0.28 per share, and in the last 12 months, the company paid a total of CA$1.12 per share. Looking at the last 12 months of distributions, MTY Food Group has a trailing yield of approximately 2.3% on its current stock price of CA$49.13. If you buy this business for its dividend, you should have an idea of whether MTY Food Group's dividend is reliable and sustainable. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.