Lancaster Colony Corporation, which manufactures glassware, candles and speciality foods, announced 25 August 2004 that its Board of Directors has declared a quarterly cash dividend of USD 0.23 per sh…
Lancaster Colony Corporation, which manufactures glassware, candles and speciality foods, announced 25 August 2004 that its Board of Directors has declared a quarterly cash dividend of USD 0.23 per share on the company“s common stock, payable 30 September 2004, to shareholders of record on 10 September 2004. The board voted to continue the cash dividend at the higher level set nine months previously. At that time, the company marked 41 consecutive years of increasing cash dividends each year. The board also authorized the repurchase of an additional two million shares of the company“s common stock as part of an ongoing stock repurchase program. Common shares currently outstanding are approximately 35,330,000. 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 165th consecutive quarterly cash dividend paid by the company since September 1963.” He noted that the indicated annual payout for the current fiscal year ending 30 June 2005, is USD 0.92 per share, up from the USD 0.89 per share paid in the fiscal year ended 30 June 2004.