Lancaster Colony Co. (LANC) To Go Ex-Dividend on June 7th

Lancaster Colony Co. (NASDAQ:LANCGet Free Report) announced a quarterly dividend on Thursday, May 16th, NASDAQ reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.90 per share on Friday, June 28th. This represents a $3.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, June 7th.

Lancaster Colony has increased its dividend payment by an average of 6.6% per year over the last three years and has raised its dividend annually for the last 61 consecutive years. Lancaster Colony has a dividend payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lancaster Colony to earn $6.99 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 51.5%.

Lancaster Colony Stock Down 0.1 %

Shares of NASDAQ:LANC opened at $185.30 on Wednesday. The firm has a market cap of $5.10 billion, a P/E ratio of 38.44 and a beta of 0.37. The company’s 50-day moving average price is $193.07 and its two-hundred day moving average price is $185.79. Lancaster Colony has a 12 month low of $158.88 and a 12 month high of $215.31.

Lancaster Colony (NASDAQ:LANCGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.02. Lancaster Colony had a return on equity of 18.96% and a net margin of 7.10%. The firm had revenue of $471.40 million during the quarter, compared to analysts’ expectations of $467.90 million. During the same period in the previous year, the business posted $0.89 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts predict that Lancaster Colony will post 6.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LANC has been the subject of a number of recent analyst reports. StockNews.com raised Lancaster Colony from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Stephens reissued an “equal weight” rating and set a $218.00 price objective on shares of Lancaster Colony in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $198.75.

View Our Latest Analysis on LANC

About Lancaster Colony

(Get Free Report)

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.

See Also

Dividend History for Lancaster Colony (NASDAQ:LANC)

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