Lamb Weston Holdings Increases Quarterly Dividend

Rhea-AI Summary

Lamb Weston Holdings, Inc. (NYSE: LW) announced a 14% increase in its quarterly dividend, now set at $0.28 per share, reflecting its commitment to returning cash to shareholders. The dividend is scheduled for payment on March 3, 2023, with a record date of Feb. 3, 2023. CEO Tom Werner emphasized that this move aligns with the company's capital allocation strategy, which focuses on both shareholder returns and investments in business growth through expansions and acquisitions while maintaining a robust balance sheet.

Positive

• 14% increase in quarterly dividend to $0.28 per share, enhancing returns for shareholders.
• Focus on capital allocation prioritizes shareholder returns alongside business investment.

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• None.

EAGLE, Idaho--(BUSINESS WIRE)-- The Board of Directors of Lamb Weston Holdings, Inc. (NYSE: LW) today approved a 14% annualized increase to the quarterly dividend. The Board declared a quarterly dividend of $0.28 per share of Lamb Weston common stock.

“This increase is a clear demonstration of our capital allocation priority of returning cash to shareholders. This priority, along with investing in our business through capacity expansions and acquisitions to support long-term growth, and maintaining a strong balance sheet, consistently drive our capital allocation decisions,” said President and Chief Executive Officer Tom Werner.

The dividend is payable on March 3, 2023, to stockholders of record as of the close of business on Feb. 3, 2023.

About Lamb Weston

Lamb Weston, along with its joint venture partners, is a leading supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. For more than 70 years, Lamb Weston has led the industry in innovation, introducing inventive products that simplify back-of-house management for its customers and make things more delicious for their customers. From the fields where Lamb Weston potatoes are grown to proactive customer partnerships, Lamb Weston always strives for more and never settles. Because, when we look at a potato, we see possibilities. Learn more about us at lambweston.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221214006019/en/

Investor Relations:

Dexter Congbalay

224-306-1535

Dexter.Congbalay@lambweston.com



Media:

Shelby Stoolman

208-424-5461

shelby.stoolman@lambweston.com

Source: Lamb Weston Holdings, Inc.

FAQ

What is the new dividend amount for Lamb Weston (LW)?

Lamb Weston has announced a new quarterly dividend of $0.28 per share.

When will the new dividend for LW be paid?

The dividend will be paid on March 3, 2023.

What is the record date for Lamb Weston’s dividend?

The record date for the dividend is February 3, 2023.

How much has Lamb Weston (LW) increased its dividend?

Lamb Weston has increased its dividend by 14%.