MTY increases its quarterly dividends by 22%

TSX Trading Symbol: "MTY"

MONTREAL, Jan. 23, 2012 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of over 2,251 quick service restaurants, announces an increase of 22% of its quarterly dividend payment from 4.5¢ per share to 5.5¢ per share. The 5.5¢ dividend will be payable on February 17, 2012 to shareholders registered in the Company's records at the end of the business day on February 1, 2012.

"We are pleased to announce this increase, which signals our confidence in our future earnings and demonstrate our commitment to financial discipline" says Stanley Ma. He adds "This increase will in no way affect our growth strategy, which we will continue achieve through organic growth and by successfully completing acquisitions".

Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information on the Company is available on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
MTY Food Group Inc.

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Stanley Ma, Chairman, President & CEO

Jean-Francois Dube, Investor Relations at 1-450-226-8475 or by email at [email protected] or visits our website: www.mtygroup.com or visit SEDAR's website at www.sedar.com under the Company's name.