Lancaster Colony Corp (LANC) Raises Quarterly Dividend 4.5% to $0.46; Reelects Two Directors

Lancaster Colony Corp (NASDAQ: LANC) declared a quarterly dividend of $0.46 per share, or $1.84 annualized. This is a 4.5% increase from the prior dividend of $0.44.

The dividend will be payable on December 31, 2014, to stockholders of record on December 8, 2014, with an ex-dividend date of December 4, 2014.

The annual yield on the dividend is 2 percent.

oting at the annual meeting, shareholders reelected two incumbent directors. They are Robert L. Fox, financial adviser for Wells Fargo Advisors, and John B. Gerlach, Jr., chairman and chief executive officer of Lancaster Colony. The shareholders also elected to the board Robert P. Ostryniec, chief product supply officer for Keurig Green Mountain, Inc., replacing Edward H. Jennings, who is retiring after serving as a director for the past 24 years.

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 206th 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, 2015 is $1.82 per share, up from the $1.72 per share paid in fiscal 2014.

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

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