WESTERVILLE, Ohio, Aug. 16, 2017 /PRNewswire/ -- Lancaster
Colony Corporation (Nasdaq: LANC) announced today that its Board of
Directors has declared a quarterly cash dividend of 55 cents per share on the company's common stock,
payable September 29, 2017 to
shareholders of record on September 8,
2017.
The board voted to continue the cash dividend at the higher
level set nine months ago. The company is one of only 14 U.S.
companies to have increased regular cash dividends each year for 54
consecutive years.
CEO David A. Ciesinski said, "The
dividend reflects the company's continued strong financial position
and will be the 217th consecutive quarterly cash
dividend paid by the company since September
1963." He noted that the indicated annual payout for the
current fiscal year ending June 30,
2018 is $2.20 per share, up
from the $2.15 per share paid in
fiscal 2017.
The company also announced that its board of directors has set
the annual meeting of shareholders for 1:00
p.m. ET, Wednesday, November 15,
2017 in the Lilac meeting room at The Hilton Columbus at
Easton, 3900 Chagrin Drive, Columbus,
Ohio 43219. The record date for shareholders entitled to
vote at the meeting is Monday, September 18,
2017.
Common shares currently outstanding are approximately
27,449,000.
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" 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.
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SOURCE Lancaster Colony Corporation