Lancaster Colony Corp. (LANC) Raises Quarterly Dividend 10% to $0.55; Reelects Three Directors

November 21, 2016 11:47 AM EST

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Lancaster Colony Corp. (NASDAQ: LANC) declared a quarterly dividend of $0.55 per share, or $2.2 annualized. This is a 10% increase from the prior dividend of $0.50.

The dividend will be payable on December 30, 2016, to stockholders of record on December 9, 2016, with an ex-dividend date of December 7, 2016.

The annual yield on the dividend is 1.6 percent.

Voting at the annual meeting, shareholders reelected three incumbent directors: Kenneth L. Cooke, Director, President and Chief Operating Officer of Intermedix Corporation; Alan F. Harris, retired Executive Vice President and Chief Marketing and Customer Officer of Kellogg Company; and Zuheir Sofia, Chairman, President and CEO of Business Bank of Florida, Director of Florida Business Bank and Chairman of Sofia & Company, Inc.

John B. Gerlach, Jr., Chairman and Chief Executive Officer of Lancaster Colony, said, "The increased regular cash dividend reflects the company's continued strong financial position and will be the 214th consecutive regular 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 special dividend of $5.00 per share paid in December 2015.

For a dividend history and other dividend-related data on Lancaster Colony Corp. (LANC) click here.

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