RBI shareholders re-elect board of directors at annual meeting

MIAMI - Restaurant Brands International Inc. (NYSE: QSR) (TSX: QSR), one of the world’s largest quick service restaurant companies with a market capitalization of $32.7 billion, announced today that its Board of Directors’ nominees were all re-elected at its Annual Meeting of Shareholders. The meeting saw a significant turnout with over 401 million votes cast, representing 88.34% of all eligible votes. According to InvestingPro analysis, the company maintains strong corporate governance practices and has consistently raised its dividend for 10 consecutive years.

The ten incumbent directors, nominated for re-election, will hold office until the next annual meeting or until their successors are appointed. Alexandre Behring received the highest number of votes against his re-election at 7.56%, while Maximilien de Limburg Stirum had the least, with only 0.34% of votes opposing his continued service on the board.

The election results were as follows: Alexandre Behring secured 92.36% of the votes in favor, while Maximilien de Limburg Stirum received 99.64%. Other directors, including J. Patrick Doyle, Cristina Farjallat, Jordana Fribourg, Ali Hedayat, Marc Lemann, Jason Melbourne, Daniel S. Schwartz, and Thecla Sweeney, were re-elected with percentages ranging from 95.39% to 98.82% in favor.

The final voting results on all matters from the Annual Meeting of Shareholders will be filed with Canadian and U.S. securities regulators.

Restaurant Brands International, with annual system-wide sales nearing $45 billion and revenue growth of 22.4% in the last twelve months, operates over 32,000 restaurants in more than 120 countries. The company owns TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®, which are independently operated and have been serving their communities for decades. InvestingPro data shows the company currently offers a 3.4% dividend yield and has received positive earnings revisions from 13 analysts for the upcoming period. RBI is committed to improving sustainable outcomes through its Restaurant Brands for Good framework, focusing on food quality, environmental sustainability, and community support.

The principal executive offices of RBI are located in Miami, Florida, with each of its brands headquartered in their respective home markets in North America. This news is based on a press release statement from the company.

In other recent news, Restaurant Brands International has issued a warning to shareholders about an unsolicited mini-tender offer from New York Stock and Bond LLC, which seeks to purchase up to 100,000 shares at a price significantly below market value. The company has cautioned investors against participating in this offer. In financial developments, Restaurant Brands reported first-quarter earnings that fell short of market expectations, yet KeyBanc Capital Markets maintained its Overweight rating on the stock, citing future growth potential and cost-saving measures. Similarly, JPMorgan raised its price target for Restaurant Brands to $80, highlighting effective cost management and a positive outlook on growth.

Guggenheim also increased its price target to $77, noting strategic valuation expansion and strong remodel data from Burger King. Additionally, Restaurant Brands released its annual "Restaurant Brands for Good" report, outlining its commitments to sustainability and community support. The report emphasizes efforts in sourcing sustainable ingredients, reducing waste, and minimizing the carbon footprint. These recent developments reflect the company’s ongoing strategic initiatives and market positioning.

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