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IMVESCOR RESTAURANT GROUP INC. T.IRG

"Imvescor Restaurant Group Inc is a franchise business that operates restaurants under the brand names of Pizza Delight, Toujours Mikes, Scores, Bâton Rouge and Ben and Florentine and licenses the right to manufacture and sell prepared food products."


TSX:IRG - Post by User

Post by Baxter4on Mar 16, 2011 12:34pm
671 Views
Post# 18293488

Q1 Report Dividend Suspended

Q1 Report Dividend SuspendedDissapointing results and the dividend is gone. In the NR , they say the dividend is suspended but then they say it is postponed. So is it gone or will we get the March 31st dividend sometime in the future. It is not clear.

Out of curiosity, I drew a trend line for the stock price from 2005 to today. Follow the trend and the stock hits zero in about a years time. Hope the management rearrangement bucks the trend.

From the NR

There will be significant short term cash requirements to implement the operational restructuring as well as to invest in technology systems. These strategic actions have been identified as a priority to improve future earnings as well as enhance the Company's ability to raise financing that is beneficial to shareholders with the objective of minimizing shareholder dilution. The cash necessary to execute these strategic actions requires the Company to suspend its payment of dividends. The Board of approved the postponement of future dividends to permit the optimal pursuit of these objectives.

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