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Meritage Announces Increased First Quarter Common Stock Dividend

Meritage Announces Increased First Quarter Common Stock Dividend
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Meritage Reports 2020 Full-Year Preliminary Results; 2021 Outlook: Poised For Strong Growth


Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Meritage Reports 2020 Full-Year Preliminary Results; 2021 Outlook: Poised For Strong Growth
Meritage Hospitality Group, Inc.February 10, 2021 GMT
GRAND RAPIDS, Mich., Feb. 10, 2021 (GLOBE NEWSWIRE) Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise restaurant operator and developer, today reported preliminary financial results for the fiscal year ended January 3, 2021.
2020 Full-Year Highlights:
Earnings from Operations increased 21.8% to $25.8 million compared to $21.2 million last year.       
Net Earnings increased 22.4% to $15.8 million compared to $12.9 million last year.
Consolidated EBITDA (a non-GAAP measure) increased 4.9% to $46.7 million compared to $44.6 million last year. ....

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Michigan Restaurants and Bars That Received Fines and Liquor License Suspensions Due to COVID-19 Restrictions


Over the last few months, agencies including the Michigan Liquor Control Commission (MLCC), Michigan Department of Health and Human Services (MDHHS), and the Michigan Occupational Safety and Health Administration (MIOSHA) have stepped up their inspections of restaurants, bars, and other hospitality-related business to ensure that they’re staying compliant with COVID-19 safety precautions and statewide orders.
The goal is to keep patrons and workers safe while also slowing the spread of novel coronavirus within Michigan and making sure all establishments are held to the same standards. Agencies have used a variety of measures to deter operators from defying epidemic orders including issuing citations of up to $1,000 per day for indoor dining service and suspending liquor licenses and permits. While the fines listed below were issued, it’s possible that some businesses have entered into agreements with agencies to correct the issues and pay a reduced fine. ....

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