Lancaster Colony Corp. (NASDAQ:LANC) Declares Quarterly Dividend of $0.70
Lancaster Colony Corp. (NASDAQ:LANC) announced a quarterly dividend on Wednesday, November 13th, Zacks reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.70 per share on Tuesday, December 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from Lancaster Colony’s previous quarterly dividend of $0.65.
Shares of NASDAQ:LANC opened at $158.16 on Wednesday. The business’s 50-day simple moving average is $149.57 and its 200 day simple moving average is $147.98. The company has a market cap of $4.34 billion, a P/E ratio of 30.10 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.70. Lancaster Colony has a one year low of $133.77 and a one year high of $194.38.
Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.34. The firm had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $333.31 million. Lancaster Colony had a return on equity of 19.98% and a net margin of 11.46%. Lancaster Colony’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS.
In related news, Director Neeli Bendapudi sold 1,600 shares of the stock in a transaction dated Saturday, September 7th. The stock was sold at an average price of $157.37, for a total value of $251,792.00. Following the completion of the transaction, the director now owns 7,800 shares of the company’s stock, valued at $1,227,486. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 31.70% of the company’s stock.
Lancaster Colony Company Profile
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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