4 March 1999: US-based Lancaster Colony Corporation has announced that its Board of Directors has declared a quarterly cash dividend of US$ 0.15 per share on the company“s common stock, payable 31 Ma…
4 March 1999: US-based Lancaster Colony Corporation has announced that its Board of Directors has declared a quarterly cash dividend of US$ 0.15 per share on the company“s common stock, payable 31 March 1999 to shareholders of record on 10 March 1999. The board voted to continue the cash dividend at the higher level set three months ago. At that time, the company marked 36 consecutive years of increasing cash dividends each year. “The dividend reflects the company“s continued strong financial position, and will be the 143rd consecutive quarterly cash dividend paid by the company since September 1963,” said John B. Gerlach, Jr., chairman and chief executive officer of Lancaster Colony. He noted that the indicated annual payout for the current fiscal year ending 30 June 1999, is US$ 0.59 per share, up 9.3% from the US$ 0.54 per share paid in the fiscal year ended 30 June 1998. The board also authorized the repurchase of up to two million shares of the company“s common stock at market prices as part of an ongoing stock repurchase plan. The company has 41.49 million shares outstanding.