Lancaster Colony Co. (NASDAQ:LANC – Get Free Report) announced a quarterly dividend on Wednesday, August 14th, Zacks reports. Shareholders of record on Monday, September 9th will be paid a dividend of 0.90 per share on Monday, September 30th. This represents a $3.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Monday, September 9th.
Lancaster Colony has raised its dividend by an average of 6.6% per year over the last three years and has increased its dividend annually for the last 61 consecutive years. Lancaster Colony has a payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lancaster Colony to earn $7.24 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 49.7%.
Lancaster Colony Price Performance
Shares of Lancaster Colony stock opened at $177.59 on Friday. The stock has a market capitalization of $4.89 billion, a PE ratio of 36.84 and a beta of 0.35. Lancaster Colony has a 1-year low of $158.88 and a 1-year high of $215.31. The company’s fifty day simple moving average is $185.66 and its 200-day simple moving average is $191.37.
Analyst Ratings Changes
Read Our Latest Report on Lancaster Colony
Insider Activity at Lancaster Colony
In related news, Director Elliot K. Fullen bought 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $169.00 per share, with a total value of $507,000.00. Following the completion of the acquisition, the director now owns 5,298 shares of the company’s stock, valued at $895,362. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 29.60% of the stock is owned by corporate insiders.
About Lancaster Colony
Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.
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