Lancaster Colony Continues Higher Cash Dividend

Rhea-AI Summary

Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 75 cents per share, payable on March 31, 2021, to shareholders of record as of March 9, 2021. This maintains the increased dividend level set three months ago, marking the 58th consecutive year of regular cash dividend increases. The indicated annual payout for the fiscal year ending June 30, 2021 is $2.95 per share, up from $2.75 in fiscal 2020. The company has paid 231 consecutive quarterly cash dividends since September 1963.

Positive

• Quarterly cash dividend maintained at 75 cents reflects strong financial position.
• Indicated annual payout increased to $2.95 per share for fiscal 2021.

Negative

• None.

WESTERVILLE, Ohio, Feb. 24, 2021 /PRNewswire/ -- Lancaster Colony Corporation (Nasdaq: LANC) announced today that its Board of Directors has declared a quarterly cash dividend of 75 cents per common share, payable March 31, 2021 to shareholders of record on March 9, 2021.

The quarterly cash dividend amount of 75 cents per share maintains the higher level set three months ago, which marked the company's 58^th consecutive year of increased regular cash dividends.  Lancaster Colony is one of only 13 U.S. companies with 58 straight years of regular cash dividend increases.

CEO David A. Ciesinski said, "The dividend reflects the company's continued strong financial position and will be the 231^st consecutive quarterly cash dividend paid by the company since September 1963."  He noted that the indicated annual payout for the current fiscal year ending June 30, 2021 is $2.95 per share, up from the $2.75 per share paid in fiscal 2020.

Common shares currently outstanding are approximately 27,550,000.

Forward-Looking Statements

We desire to take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). This news release contains various "forward-looking statements" within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words "anticipate," "estimate," "project," "believe," "intend," "plan," "expect," "hope," "indicated" or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control and could be amplified by the COVID-19 pandemic, which could cause our actual results to differ materially from those expressed in the forward-looking statements.

Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include:

• changes in our cash flow or use of cash in various business activities; and
• risks related to other factors described under "Risk Factors" in other reports and statements filed by us with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available at www.sec.gov).

Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on such statements that are based on current expectations.

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SOURCE Lancaster Colony Corporation

FAQ

What is the dividend amount declared by Lancaster Colony Corporation in February 2021?

Lancaster Colony Corporation declared a quarterly cash dividend of 75 cents per share.

When is the dividend payment date for Lancaster Colony Corporation's 75 cents dividend?

The dividend will be paid on March 31, 2021.

How many consecutive years has Lancaster Colony Corporation increased its cash dividend?

Lancaster Colony Corporation has increased its regular cash dividends for 58 consecutive years.

What is the indicated annual payout for Lancaster Colony Corporation in fiscal 2021?

The indicated annual payout for fiscal 2021 is $2.95 per share.

When was the last time Lancaster Colony Corporation paid a cash dividend?

The last cash dividend was paid in September 2020.