Reported Earnings • 6h
First quarter 2026 earnings released: EPS: US$1.33 (vs US$0.66 in 1Q 2025) First quarter 2026 results: EPS: US$1.33 (up from US$0.66 in 1Q 2025). Revenue: US$2.26b (up 7.3% from 1Q 2025). Net income: US$445.0m (up 100% from 1Q 2025). Profit margin: 20% (up from 11% in 1Q 2025). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Board Change • May 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. Independent Director of Restaurant Brands International Inc. Jordana Fribourg was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Apr 25
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. Independent Director of Restaurant Brands International Inc. Jordana Fribourg was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 12
Restaurant Brands International Limited Partnership, Annual General Meeting, Jun 03, 2026 Restaurant Brands International Limited Partnership, Annual General Meeting, Jun 03, 2026. Location: ontario, toronto Canada Upcoming Dividend • Mar 12
Upcoming dividend of US$0.65 per share Eligible shareholders must have bought the stock before 19 March 2026. Payment date: 02 April 2026. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Canadian dividend payers (5.6%). In line with average of industry peers (3.7%). Reported Earnings • Feb 21
Full year 2025 earnings released: EPS: US$3.57 (vs US$4.30 in FY 2024) Full year 2025 results: EPS: US$3.57 (down from US$4.30 in FY 2024). Revenue: US$9.43b (up 12% from FY 2024). Net income: US$1.20b (down 17% from FY 2024). Profit margin: 13% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Declared Dividend • Feb 19
Third quarter dividend of US$0.65 announced Shareholders will receive a dividend of US$0.65. Ex-date: 19th March 2026 Payment date: 2nd April 2026 Dividend yield will be 3.5%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Dec 16
Upcoming dividend of US$0.62 per share Eligible shareholders must have bought the stock before 23 December 2025. Payment date: 06 January 2026. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Canadian dividend payers (5.9%). In line with average of industry peers (3.6%). Declared Dividend • Nov 10
Third quarter dividend of US$0.62 announced Shareholders will receive a dividend of US$0.62. Ex-date: 23rd December 2025 Payment date: 6th January 2026 Dividend yield will be 3.4%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: US$1.31 (vs US$1.06 in 3Q 2024) Third quarter 2025 results: EPS: US$1.31 (up from US$1.06 in 3Q 2024). Revenue: US$2.45b (up 6.9% from 3Q 2024). Net income: US$440.0m (up 24% from 3Q 2024). Profit margin: 18% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 17
Upcoming dividend of US$0.62 per share Eligible shareholders must have bought the stock before 23 September 2025. Payment date: 07 October 2025. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Canadian dividend payers (5.7%). In line with average of industry peers (4.0%). Declared Dividend • Aug 12
Second quarter dividend of US$0.62 announced Shareholders will receive a dividend of US$0.62. Ex-date: 23rd September 2025 Payment date: 7th October 2025 Dividend yield will be 3.6%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 6.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: US$0.79 (vs US$1.19 in 2Q 2024) Second quarter 2025 results: EPS: US$0.79 (down from US$1.19 in 2Q 2024). Revenue: US$2.41b (up 16% from 2Q 2024). Net income: US$264.0m (down 34% from 2Q 2024). Profit margin: 11% (down from 19% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Buy Or Sell Opportunity • Jul 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.1% to CA$95.24. The fair value is estimated to be CA$78.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 9.0%. Upcoming Dividend • Jun 17
Upcoming dividend of US$0.62 per share Eligible shareholders must have bought the stock before 24 June 2025. Payment date: 08 July 2025. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Canadian dividend payers (6.0%). In line with average of industry peers (3.8%). Declared Dividend • May 29
First quarter dividend of US$0.62 announced Shareholders will receive a dividend of US$0.62. Ex-date: 24th June 2025 Payment date: 8th July 2025 Dividend yield will be 3.1%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • May 13
First quarter dividend of US$0.62 announced Shareholders will receive a dividend of US$0.62. Ex-date: 24th June 2025 Payment date: 8th July 2025 Dividend yield will be 3.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 16% Last year net profit margin: 25% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Shares are highly illiquid. Minor Risk Profit margins are more than 30% lower than last year (16% net profit margin). Reported Earnings • May 10
First quarter 2025 earnings released First quarter 2025 results: Revenue: US$2.11b (up 21% from 1Q 2024). Net income: US$161.0m (down 51% from 1Q 2024). Profit margin: 7.6% (down from 19% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 12% per year. Announcement • Mar 17
Restaurant Brands International Limited Partnership, Annual General Meeting, Jun 03, 2025 Restaurant Brands International Limited Partnership, Annual General Meeting, Jun 03, 2025. Location: ontario, toronto Canada Upcoming Dividend • Mar 14
Upcoming dividend of US$0.62 per share Eligible shareholders must have bought the stock before 21 March 2025. Payment date: 04 April 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Canadian dividend payers (6.4%). In line with average of industry peers (3.8%). Declared Dividend • Feb 16
Fourth quarter dividend of US$0.62 announced Shareholders will receive a dividend of US$0.62. Ex-date: 21st March 2025 Payment date: 4th April 2025 Dividend yield will be 3.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 13
Full year 2024 earnings released: EPS: US$3.20 (vs US$5.03 in FY 2023) Full year 2024 results: EPS: US$3.20 (down from US$5.03 in FY 2023). Revenue: US$8.41b (up 20% from FY 2023). Net income: US$1.02b (down 41% from FY 2023). Profit margin: 12% (down from 24% in FY 2023). The decrease in margin was driven by higher expenses. Same store sales growth: 2.3% vs FY 2023 Total stores: 32,125 (up by 1,055 from FY 2023). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year. Announcement • Feb 13
Restaurant Brands International Limited Partnership Declares Dividend for the First Quarter of 2025, Payable on April 4, 2025 Restaurant Brands International Limited Partnership has declared a dividend of $0.62 per common share and partnership exchangeable unit of RBI LP for the first quarter of 2025. The dividend will be payable on April 4, 2025 to shareholders and unitholders of record at the close of business on March 21, 2025. Buy Or Sell Opportunity • Jan 20
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to CA$87.97. The fair value is estimated to be CA$72.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 17%. Declared Dividend • Dec 03
Third quarter dividend of US$0.58 announced Shareholders will receive a dividend of US$0.58. Ex-date: 20th December 2024 Payment date: 3rd January 2025 Dividend yield will be 2.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Nov 14
Third quarter dividend of US$0.58 announced Shareholders will receive a dividend of US$0.58. Ex-date: 20th December 2024 Payment date: 3rd January 2025 Dividend yield will be 3.1%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 06
Third quarter 2024 earnings released: EPS: US$0.79 (vs US$1.07 in 3Q 2023) Third quarter 2024 results: EPS: US$0.79 (down from US$1.07 in 3Q 2023). Revenue: US$2.29b (up 25% from 3Q 2023). Net income: US$252.0m (down 31% from 3Q 2023). Profit margin: 11% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 13
Upcoming dividend of US$0.58 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 04 October 2024. Payout ratio is a comfortable 42% and the cash payout ratio is 85%. Trailing yield: 3.3%. Lower than top quartile of Canadian dividend payers (6.0%). In line with average of industry peers (3.5%). Buy Or Sell Opportunity • Sep 11
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 1.8% to CA$94.20. The fair value is estimated to be CA$77.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 19%. Declared Dividend • Aug 12
Second quarter dividend of US$0.58 announced Shareholders will receive a dividend of US$0.58. Ex-date: 20th September 2024 Payment date: 4th October 2024 Dividend yield will be 3.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: US$0.88 (vs US$1.02 in 2Q 2023) Second quarter 2024 results: EPS: US$0.88 (down from US$1.02 in 2Q 2023). Revenue: US$2.08b (up 17% from 2Q 2023). Net income: US$280.0m (down 20% from 2Q 2023). Profit margin: 14% (down from 20% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 14
Upcoming dividend of US$0.58 per share Eligible shareholders must have bought the stock before 21 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 43% and the cash payout ratio is 79%. Trailing yield: 3.4%. Lower than top quartile of Canadian dividend payers (6.4%). In line with average of industry peers (3.5%). Declared Dividend • May 03
First quarter dividend of US$0.58 announced Shareholders will receive a dividend of US$0.58. Ex-date: 21st June 2024 Payment date: 5th July 2024 Dividend yield will be 2.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • May 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Restaurant Brands International Inc. Jordana Fribourg was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 04
Restaurant Brands International Limited Partnership to Report Q1, 2024 Results on Apr 30, 2024 Restaurant Brands International Limited Partnership announced that they will report Q1, 2024 results at 12:30 PM, US Eastern Standard Time on Apr 30, 2024 Upcoming Dividend • Mar 13
Upcoming dividend of US$0.58 per share Eligible shareholders must have bought the stock before 20 March 2024. Payment date: 04 April 2024. Payout ratio is a comfortable 44% and the cash payout ratio is 82%. Trailing yield: 2.8%. Lower than top quartile of Canadian dividend payers (6.4%). In line with average of industry peers (3.0%). Declared Dividend • Feb 16
Fourth quarter dividend of US$0.58 announced Shareholders will receive a dividend of US$0.58. Ex-date: 20th March 2024 Payment date: 4th April 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 23% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 5.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2023 earnings released: EPS: US$3.81 (vs US$4.28 in FY 2022) Full year 2023 results: EPS: US$3.81 (down from US$4.28 in FY 2022). Revenue: US$7.02b (up 7.9% from FY 2022). Net income: US$1.19b (down 20% from FY 2022). Profit margin: 17% (down from 23% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Feb 05
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Restaurant Brands International Inc. Jordana Fribourg was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 13
Upcoming dividend of US$0.55 per share at 3.1% yield Eligible shareholders must have bought the stock before 20 December 2023. Payment date: 04 January 2024. Payout ratio is a comfortable 57% and the cash payout ratio is 81%. Trailing yield: 3.1%. Lower than top quartile of Canadian dividend payers (6.6%). In line with average of industry peers (3.1%). Board Change • Dec 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Restaurant Brands International Inc. Jordana Fribourg was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 04
Restaurant Brands International Limited Partnership Declares Dividend for the Fourth Quarter of 2023, Payable on January 4, 2024 Restaurant Brands International Inc.'s Board of Directors has declared a dividend of $0.55 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership for the fourth quarter of 2023. The dividend will be payable on January 4, 2024 to shareholders and unitholders of record at the close of business on December 21, 2023. Reported Earnings • Nov 03
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: US$1.84b (up 6.4% from 3Q 2022). Net income: US$252.0m (down 52% from 3Q 2022). Profit margin: 14% (down from 31% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Sep 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Restaurant Brands International Inc. Jordana Fribourg was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 12
Upcoming dividend of US$0.55 per share at 3.3% yield Eligible shareholders must have bought the stock before 19 September 2023. Payment date: 04 October 2023. Payout ratio is a comfortable 50% and the cash payout ratio is 82%. Trailing yield: 3.3%. Lower than top quartile of Canadian dividend payers (6.3%). In line with average of industry peers (3.3%). Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: US$1.02 (vs US$1.00 in 2Q 2022) Second quarter 2023 results: EPS: US$1.02 (up from US$1.00 in 2Q 2022). Revenue: US$1.78b (up 8.3% from 2Q 2022). Net income: US$350.0m (up 1.4% from 2Q 2022). Profit margin: 20% (down from 21% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 14
Upcoming dividend of US$0.55 per share at 3.0% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 06 July 2023. Payout ratio is a comfortable 50% and the cash payout ratio is 78%. Trailing yield: 3.0%. Lower than top quartile of Canadian dividend payers (6.3%). In line with average of industry peers (3.0%). Announcement • May 25
Restaurant Brands International Limited Partnership, Annual General Meeting, May 24, 2023 Restaurant Brands International Limited Partnership, Annual General Meeting, May 24, 2023. Agenda: To elected the ten (10) directors specifically named in the Company's management information circular and proxy statement; to approved, on an advisory basis, the compensation paid by the Company to its named executive officers; to appoint KPMG LLP as the Company's auditors to serve until the close of the 2024 Annual Meeting of Shareholders; and to transact such other business matter. Reported Earnings • May 04
First quarter 2023 earnings released: EPS: US$0.80 (vs US$0.78 in 1Q 2022) First quarter 2023 results: EPS: US$0.80 (up from US$0.78 in 1Q 2022). Revenue: US$1.59b (up 9.6% from 1Q 2022). Net income: US$276.0m (up 2.6% from 1Q 2022). Profit margin: 17% (down from 19% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 14
Upcoming dividend of US$0.55 per share at 3.6% yield Eligible shareholders must have bought the stock before 21 March 2023. Payment date: 05 April 2023. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Canadian dividend payers (6.1%). In line with average of industry peers (3.6%). Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: US$4.28 (vs US$3.54 in FY 2021) Full year 2022 results: EPS: US$4.28 (up from US$3.54 in FY 2021). Revenue: US$6.51b (up 13% from FY 2021). Net income: US$1.48b (up 18% from FY 2021). Profit margin: 23% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Restaurant Brands International Limited Partnership Announces CEO Changes Restaurant Brands International Limited Partnership’s Board of Directors announced in a separate press release that it has appointed Joshua Kobza as the company’s CEO effective March 1, 2023, as part of its ongoing succession planning process. Mr. Kobza will undertake his new role reporting to, and working together with, Patrick Doyle, a well-known industry veteran and Executive Chairman of RBI. José Cil will remain with the company for one year as an advisor and assist in the transition. Upcoming Dividend • Dec 13
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 20 December 2022. Payment date: 04 January 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Canadian dividend payers (5.8%). In line with average of industry peers (3.3%). Board Change • Nov 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Restaurant Brands International Inc. Thecla Sweeney was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$1.53 (vs US$0.93 in 3Q 2021) Third quarter 2022 results: EPS: US$1.53 (up from US$0.93 in 3Q 2021). Revenue: US$1.73b (up 16% from 3Q 2021). Net income: US$529.0m (up 61% from 3Q 2021). Profit margin: 31% (up from 22% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 13
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 20 September 2022. Payment date: 05 October 2022. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Canadian dividend payers (5.6%). In line with average of industry peers (3.6%). Announcement • Aug 06
Restaurant Brands International Limited Partnership Declares Cash Dividend for Third Quarter of 2022, Payable on October 5, 2022 Restaurant Brands International Limited Partnership's Board of Directors has declared a dividend of $0.54 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership for the third quarter of 2022. The dividend will be payable on October 5, 2022 to shareholders and unitholders of record at the close of business on September 21, 2022. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: US$0.68 (vs US$1.09 in 2Q 2021) Second quarter 2022 results: EPS: US$0.68 (down from US$1.09 in 2Q 2021). Revenue: US$1.64b (up 14% from 2Q 2021). Net income: US$236.0m (down 40% from 2Q 2021). Profit margin: 14% (down from 27% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 14
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 06 July 2022. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Canadian dividend payers (5.1%). In line with average of industry peers (4.1%). 
