Tim Hortons (THI) Misses Q1 EPS by 3c; Updating CEO Succession Plan

May 9, 2012 9:41 AM EDT
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Price: $85.92 --0%

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Dividend per common share: 0.32

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Tim Hortons (NYSE: THI) reported Q1 EPS of $0.56, $0.03 worse than the analyst estimate of $0.59. Revenue for the quarter came in at $721.3 million versus the consensus estimate of $707.37 million.

On May 24th, 2011 Paul House assumed the role of President and CEO of the Corporation, in addition to his role as the Board's Executive Chairman, pending the successful completion of a comprehensive CEO succession and global search process. The Board of Directors is pleased to announce that Mr. House has committed to continue his current appointment as President and CEO until the earlier of December, 2013 and the appointment and transition to a successor CEO. Mr. House will also continue in in his role as Executive Chairman. His extensive industry knowledge, relevant experience and previous leadership of Tim Hortons continue to be highly valuable.

A quarterly dividend of $0.21 per common share has been declared by the Board of Directors, payable on June 8 th, 2012 to shareholders of record as of May 24 th, 2012.

For earnings history and earnings-related data on Tim Hortons (THI) click here.

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