Tim Hortons Inc. increases quarterly dividend by 23.1% and declares a dividend of $0.32 per common share

Tim Hortons Inc. increases quarterly dividend by 23.1% and declares a dividend
                          of $0.32 per common share

PR Newswire

OAKVILLE, ON, Feb. 20, 2014

(All amounts in Canadian dollars)

OAKVILLE, ON, Feb. 20, 2014 /PRNewswire/ - Tim Hortons Inc. (TSX: THI, NYSE:
THI) today announced that the Board of Directors has approved a 23.1% increase
in the quarterly dividend to $0.32 per common share, which is within our
targeted annual dividend payout range of 35% to 40% of prior year, normalized
net income attributable to Tim Hortons Inc. The dividend is payable on March
18, 2014, to shareholders of record as of March 3, 2014.

"Paying a reliable and growing dividend stream continues to be our first
priority in terms of returning capital to our shareholders. This is the
seventh consecutive year we have announced a meaningful increase to our
dividend," said Cynthia Devine, Chief Financial Officer.

Dividends are declared and paid in Canadian dollars to all shareholders with
Canadian resident addresses. For U.S. shareholders, the dividends will be
converted to, and paid in, U.S. dollars based on prevailing exchange rates at
the time of conversion by Tim Hortons for registered shareholders and by CDS
Clearing and Depository Services Inc. for beneficial shareholders. The
payment of future dividends and the targeted payout range remain at the
discretion of the Board of Directors.

Tim Hortons Inc. Overview

Tim Hortons is one of the largest publicly-traded restaurant chains in North
America based on market capitalization, and the largest in Canada. Operating
in the quick service segment of the restaurant industry, Tim Hortons appeals
to a broad range of consumer tastes, with a menu that includes premium coffee,
hot and cold specialty drinks (including lattes, cappuccinos and espresso
shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini
and classic sandwiches, wraps, soups, prepared foods and other food products.
As of December29, 2013, Tim Hortons had 4,485 systemwide restaurants,
including 3,588 in Canada, 859 in the United States and 38 in the Gulf
Cooperation Council. More information about the Company is available at

SOURCE Tim Hortons


Scott Bonikowsky: (905)339-6186 orinvestor_relations@timhortons.com
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