Lancaster Colony Corporation (NASDAQ:LANC) declared quarterly dividend of $ 0.70 per share, or $ 2.80 annualized.
The dividend will be payable on September 30, 2020, to stockholders of record on September 9, 2020, with an ex-dividend date of September 8, 2020.
The quarterly cash dividend amount of $0.70 per share maintains the higher level set nine months ago, which marked the companys 57th consecutive year of increased regular cash dividends.
Dividends History
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Recent Earnings Announcement
Lancaster Colony Corporation communicated income for the third quarter of $ 0.81 per share, from the revenue of $ 321.36 million. The quarterly earnings declined 27.03 percent compared with the same quarter last year. According to street consensus, LANC was expected to report 3Q20 income of $ 1.08 per share from revenue of $ 319.55 million. The bottom line results missed street analysts by $ 0.27 or 25 percent, at the same time, top line results outshined analysts by $ 1.81 million or 0.57 percent.
Stock Performance
According to the previous trading day, closing price of LANC was $ 167.18, representing a 45.95 % increase from the 52 week low of $ 114.55 and a 3.33 % decrease over the 52 week high of $ 172.93.
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The company has a market capital of $ 4.60 billion and is part of the Consumer Defensive sector and Packaged Foods industry.
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schuberts; frozen mini stuffed bagels under the Bantam Bagels; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardinis, and Girards; and vegetable and fruit dips under the Marzetti brand names.
