Lancaster Colony Corporation (LANC) Declares Dividend Increase – $0.60 Per Share
Lancaster Colony Corporation (NASDAQ:LANC) announced a quarterly dividend on Wednesday, November 15th, RTT News reports. Stockholders of record on Friday, December 8th will be given a dividend of 0.60 per share on Friday, December 29th. This represents a $2.40 annualized dividend and a dividend yield of 1.94%. This is a positive change from Lancaster Colony Corporation’s previous quarterly dividend of $0.55.
Lancaster Colony Corporation has decreased its dividend by an average of 1.5% annually over the last three years and has raised its dividend every year for the last 54 years. Lancaster Colony Corporation has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings.
Lancaster Colony Corporation (LANC) traded up $1.07 during trading hours on Wednesday, hitting $123.91. The stock had a trading volume of 59,800 shares, compared to its average volume of 107,629. The company has a market cap of $3,370.00, a price-to-earnings ratio of 27.42 and a beta of 1.04. Lancaster Colony Corporation has a 1-year low of $113.33 and a 1-year high of $149.30.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research raised Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Wedbush reaffirmed a “buy” rating on shares of Lancaster Colony Corporation in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $154.67.
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Lancaster Colony Corporation Company Profile
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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