On 22 May, the Board of Directors of the US company Lancaster Colony Corp. approved the second 1% per share increase this fiscal year in the cash dividend on the company“s common stock. The board dec…
On 22 May, the Board of Directors of the US company Lancaster Colony Corp. approved the second 1% per share increase this fiscal year in the cash dividend on the company“s common stock. The board declared a quarterly cash dividend of US$ 0.19 per share, payable 30 June 1997, to shareholders of record on 10 June 1997. John B. Gerlach, Jr., chairman and CEO of Lancaster Colony, said that this dividend reflects the company“s strong cash flow and raises the indicated annual payout for the current fiscal year ending 30 June 1997, to US$ 0.72 per share, up from the US$ 0.66 per share paid in the previous fiscal year. He noted that the company has increased the cash dividend each year for 34 consecutive years. This will be the 136th consecutive quarterly cash dividend paid by the company since September 1963.