Shares of Maple Leaf Foods (MFI.TO) gained on Tuesday, as the processed foods giant boosted its dividend and called for strong sales in the year ahead.
Maple Leaf is one of Canada’s largest meat and plant-based protein producers. The Mississauga, Ont.-based company is best known for its deli meats, bacon and poultry, as well as the popular Schneiders brand of hot dogs.
Toronto-listed shares closed 3.82 per cent higher at $25.80 on Tuesday, adding to a roughly 33 per cent gain over the past 12 months.
In a news release on Tuesday, the company said it has approved a roughly 10 per cent increase to its quarterly dividend for 2026. This would raise the payout from $0.19 per share to $0.21 per share, or $0.84 per share annually. The change applies to shareholders of record at the close of business on March 9.
At the same time, Maple Leaf says it expects mid-single digit sales growth in its 2026 fiscal year.
“Following a year of transformational financial performance, we are increasing our annual dividend by 10 per cent, marking our eleventh consecutive annual increase,” CEO Curtis Frank stated on Tuesday.
Maple Leaf Foods shares fell last year, following the sale of its Canadian Packers pork business and weaker-than-expected financial results.
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist.