WESTERVILLE, Ohio, May 24, 2018 /PRNewswire/ -- Lancaster Colony
Corporation (Nasdaq: LANC) announced today that its Board of
Directors has declared a quarterly cash dividend of 60 cents per share on the company's common stock,
payable June 29, 2018 to shareholders
of record on June 8, 2018.
The quarterly cash dividend amount of 60
cents per share maintains the higher level set six months
ago, which marked the company's 55th consecutive year of
increased regular cash dividends. Lancaster Colony is one of only
14 U.S. companies with 55 straight years of regular cash dividend
increases.
CEO David A. Ciesinski said, "The
dividend reflects the company's continued strong financial position
and will be the 220th 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, 2018 is
$2.35 per share, up from the
$2.15 per share paid in fiscal
2017.
Common shares currently outstanding are approximately
27,484,000.
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," "indicated" 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