Meritage Hosp Stock Price, News & Analysis

Meritage Hospitality Group (OTCQX: MHGU) has opened its first Taco John’s in Wyoming, Michigan, marking a key milestone in its 5-Year development plan. The company aims to establish 50 new Taco John’s restaurants by 2026, with potential plans for 150 more. An estimated investment of $100 million will support this rollout. Meritage expects strong sales growth through new restaurant development, reimaging, and acquisitions, while also focusing on returning cash flow to shareholders via dividends and share buybacks.

Meritage Hospitality Group (OTCQX: MHGU) has officially started construction on its first Taco John’s restaurant in Ohio, marking a significant expansion milestone. This location in the greater Cincinnati area is part of an ambitious plan to develop 50 new restaurants by 2026, with the potential for an additional 150. The total investment for the initial rollout is projected at around $100 million. Meritage aims for strong sales growth in 2023 and 2024, driven by new store openings and renovations. The company is uniquely positioned as a public entity in the Taco John’s development, promising profitable growth for investors.

Meritage Hospitality Group Inc. (MHGU) reports strong third quarter results with sales up 8.9% to $160.6 million, alongside a 63.2% increase in earnings from operations to $3.0 million. However, net earnings decreased to $1.8 million from $2.4 million last year. Year-to-date, sales rose 8.9% to $466.6 million, but earnings and EBITDA declined compared to previous year figures. The company is expanding its footprint with new Wendy’s and Taco John’s restaurants, anticipating improved operational margins as supply chain costs stabilize.

Meritage Hospitality Group (OTCQX: MHGU) received the Wendy’s 2022 Monument Award for Visionary Growth and Expansion in the large franchise category. This award recognizes outstanding franchisees who enhance the Wendy's brand through their commitment to development, service, and sustainability. Meritage was honored for launching market tests, supporting brand initiatives, piloting new restaurant designs, and investing in innovative management methods. The award reflects Meritage's four-year commitment to operational excellence.

Meritage Hospitality Group (OTCQX: MHGU) announced a special quarterly dividend of $0.12 per share, payable on October 1, 2022. The company increased its stock repurchase authorization by 1,000,000 shares. With strong second-quarter results, the company aims for a full-year dividend growth of 12.5% and forecasts sales growth of 10% to 15% in 2022. Meritage is also set to invest approximately $100 million in expanding Taco John’s, targeting 50 new locations by 2026. This investment aligns with the company's strategy to enhance shareholder returns and capitalize on new growth opportunities.

Meritage Hospitality Group (OTCQX: MHGU) has initiated construction for its first Taco John’s location in Wyoming, Michigan, marking a significant step in its multi-state rollout plan. The company aims to build 50 new Taco John’s restaurants by 2026, with a potential for an additional 150. Meritage plans to invest around $100 million in this initiative, leveraging both cash and credit facilities. The company forecasts a sales growth of 10% to 15% and a similar increase in dividend growth for 2022, supported by strong growth from Wendy’s and Taco John’s developments.

Meritage Hospitality Group Inc. (OTCQX: MHGU) reported its second-quarter earnings for the period ending July 3, 2022. Sales rose 9.3% to $161.0 million, up from $147.3 million in the prior year. However, net earnings fell to $6.0 million from $7.9 million. The company announced an acquisition of six Wendy’s restaurants in Florida, expected to add approximately $11 million in annual sales. Year-to-date, sales increased 8.9% to $306.1 million. The full-year outlook anticipates 10% to 15% growth in sales and dividends.

Meritage Hospitality Group Inc. (OTCQX: MHGU) announced the acquisition of six Wendy’s restaurants in Jacksonville, Florida, as part of its growth strategy aimed at reaching 400 locations. This acquisition, funded by cash reserves, is expected to contribute approximately $11.0 million in annual sales and enhance earnings. The company is on track to open a record number of new restaurants in 2022 and plans to renovate the acquired locations to improve guest experiences. Meritage aims for a sales growth of 10% to 15% alongside a similar increase in dividends for the second half of 2022.

Meritage Hospitality Group (OTCQX: MHGU) held its Annual Shareholders Meeting on May 17, 2022, where shareholders elected eight directors for one-year terms. A quarterly dividend of $0.12 per share was approved, payable on July 1, 2022, to shareholders of record as of June 15, 2022. The company anticipates a stronger second half of 2022, committing resources to open 100 new Wendy’s and Taco John’s locations by 2025. Meritage currently operates 345 restaurants across 15 states and employs approximately 11,000 individuals.