DALLAS, March 3, 2016 /PRNewswire/ -- Dean Foods Company
("Dean Foods") (NYSE: DF) announced today that its Board of
Directors declared an increased quarterly dividend of $0.09 per share of common stock, up 29 percent
from the $0.07 per share quarterly
dividend paid each quarter in 2014 and 2015. The dividend is
payable on March 23, 2016 to
stockholders of record at the close of business on March 14, 2016. Dean Foods currently
expects that the aggregate annual cash dividend for 2016 will be
$0.36 per share of common stock, up
$0.08 per share from $0.28 per share during 2015.
"We are pleased with the performance of our business, giving us
the confidence to increase our quarterly dividend and underscoring
our commitment to enhancing value for our stockholders," said
Gregg A. Tanner, Chief Executive
Officer. "Going forward, we will maintain a balanced approach
to capital deployment that returns capital to stockholders and
prudently invests in our business strategy."
About Dean Foods
Dean Foods® is a leading food and beverage company and the
largest processor and direct-to-store distributor of fresh fluid
milk and other dairy and dairy case products in the United States. Headquartered in
Dallas, Texas, the Dean Foods
portfolio includes DairyPure®, the country's first and largest
fresh, white milk national brand, and TruMoo®, the leading national
flavored milk brand, along with well-known regional dairy brands
such as Alta Dena®, Berkeley Farms®, Country Fresh®, Dean's®,
Garelick Farms®, LAND O LAKES®* milk and cultured products*, Lehigh
Valley Dairy Farms®, Mayfield®, McArthur®, Meadow Gold®, Oak
Farms®, PET®**, T.G. Lee®, Tuscan® and more. In all, Dean Foods has
more than 50 local and regional dairy brands and private labels.
Dean Foods also makes and distributes ice cream, cultured products,
juices, teas, and bottled water. Almost 17,000 employees across the
country work every day to make Dean Foods the most admired and
trusted provider of wholesome, great-tasting dairy products at
every occasion. For more information about Dean Foods and its
brands, visit www.deanfoods.com.
*The LAND O LAKES brand is owned by Land O'Lakes, Inc. and is
used by license.
**PET is a trademark of The J.M. Smucker Company and is used by
license.
Some of the statements made in this press release are
"forward-looking" and are made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995,
including but not limited to statements relating to Dean Foods'
dividend policy. These statements involve risks and uncertainties
that may cause results to differ materially from those set forth in
this press release. The declaration and payment of cash dividends
under Dean Foods' dividend policy remains at the sole discretion of
the Board of Directors or a committee thereof and will depend upon
its financial results, cash requirements, future prospects,
restrictions in its credit agreement and debt covenant compliance,
applicable law and other factors that may be deemed relevant by the
Board of Directors or such committee. All forward-looking
statements in this press release speak only as of the date of this
press release. Dean Foods expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
such statements to reflect any change in our expectations with
regard thereto or any changes in the events, conditions or
circumstances on which any such statement is based except as
required by law.
CONTACT: Corporate Communications, Jamaison Schuler, +1-214-721-7766; or Investor
Relations, Sherri Baker,
+1-214-303-3438
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SOURCE Dean Foods Company