Lancaster Colony Continues Higher Cash Dividend

WESTERVILLE, Ohio--(BUSINESS WIRE)--Lancaster Colony Corporation (Nasdaq: LANC) announced today that its Board of Directors has declared a quarterly cash dividend of 85 cents per common share, payable June 30, 2023 to shareholders of record on June 9, 2023.

The quarterly cash dividend amount of 85 cents per share maintains the higher level set six months ago, which marked the company’s 60^th consecutive year of increased regular cash dividends. Lancaster Colony is one of only 13 U.S. companies with 60 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 240^th 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, 2023 is $3.35 per share, up from the $3.15 per share paid in fiscal 2022.

Common shares currently outstanding are approximately 27,525,000.

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.

Contacts

Dale N. Ganobsik
Vice President, Corporate Finance and Investor Relations
Lancaster Colony Corporation
Phone: 614/224‑7141
Email: ir@lancastercolony.com

First published on Fri, May 19, 2023

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs' site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

Lancaster Colony Corporation Specialty Food Products Retail And Foodservice Markets

Join The Discussion

Manufacturing Technology