COLUMBUS, Ohio, Feb. 22, 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 March 31, 2017 to
shareholders of record on March 9,
2017.
The board voted to continue the cash dividend at the higher
level set three months ago. The company is one of only 14 U.S.
companies to have increased regular cash dividends each year for 54
consecutive years.
John B. Gerlach, Jr., chairman
and chief executive officer of Lancaster Colony, said, "The
dividend reflects the company's continued strong financial position
and will be the 215th 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,
2017 is $2.15 per share, up
from the $1.96 per share paid in
fiscal 2016, excluding the $5.00 per
share special dividend paid in December
2015.
Common shares currently outstanding are approximately
27,433,000.
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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lancaster-colony-continues-higher-cash-dividend-300411811.html
SOURCE Lancaster Colony Corporation