WESTERVILLE, Ohio, May 25, 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 June 30, 2017 to shareholders
of record on June 8, 2017.
The board voted to continue the cash dividend at the higher
level set six 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 216th consecutive quarterly cash
dividend paid by the company since September
1963." He noted that the 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
27,447,000.
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