Lancaster Colony Continues Higher Cash Dividend
Lancaster Colony announced its Board of Directors declared a quarterly cash dividend of 90 cents per common share, to be paid on June 28, 2024, to shareholders of record as of June 7, 2024. This maintains the increased dividend level set six months ago and marks the company's 61st consecutive year of increased regular cash dividends. The annual payout for the current fiscal year ending June 30, 2024, is $3.55 per share, up from $3.35 per share in fiscal 2023. Lancaster Colony boasts a record of 244 consecutive quarterly cash dividends since September 1963. Approximately 27,527,000 common shares are currently outstanding.
- Quarterly dividend of 90 cents per share maintained.
- 61st consecutive year of increased regular cash dividends.
- Annual payout for fiscal year 2024 is $3.55 per share, up from $3.35 in 2023.
- 244 consecutive quarterly cash dividends since September 1963.
- Strong financial position reflected by continued dividend payouts.
- No new increase in dividend beyond the previous level set six months ago.
The quarterly cash dividend amount of
CEO David A. Ciesinski said, “The dividend reflects the company’s continued strong financial position and will be the 244th consecutive quarterly cash dividend paid by the company since September 1963.” He noted that the annual payout for the current fiscal year ending June 30, 2024 is
Common shares currently outstanding are approximately 27,527,000.
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, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240515399016/en/
Dale N. Ganobsik
Vice President, Corporate Finance and Investor Relations
Lancaster Colony Corporation
Phone: 614/224‑7141
Email: ir@lancastercolony.com
Source: Lancaster Colony Corporation
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