WESTERVILLE, Ohio, Nov. 13, 2019 /PRNewswire/ -- Lancaster
Colony Corporation (Nasdaq: LANC) announced today that its Board of
Directors has declared a quarterly cash dividend of 70 cents per common share, marking 57 consecutive
years of increasing regular cash dividends. The company is
one of only 13 U.S. companies with 57 straight years of regular
cash dividend increases. The dividend will be payable
December 31, 2019 to shareholders of
record on December 6, 2019. As
of the record date for today's annual shareholder meeting, there
were 27,492,982 common shares outstanding.
Voting at the annual meeting, shareholders reelected three
incumbent directors. They are David
A. Ciesinski, President and Chief Executive Officer of
Lancaster Colony, Kenneth L. Cooke,
former President and Chief Operating Officer of Intermedix
Corporation, and Alan F. Harris,
retired Executive Vice President and Chief Marketing and Customer
Officer of Kellogg Company. The shareholders also elected to
the board Barbara L. Brasier,
retired Chief Financial Officer and Senior Vice President of Herc
Rentals, Inc., replacing Zuheir
Sofia, who is retiring from the board after serving as a
director for the past 21 years.
CEO David A. Ciesinski said, "The
increased regular cash dividend reflects the company's continued
strong financial position and will be the 226th
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,
2020 is $2.75 per share, up
from the $2.55 per share paid in
fiscal 2019.
Forward-Looking Statements
We desire to take
advantage of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 (the "PSLRA"). This news release
contains various "forward-looking statements" within the meaning of
the PSLRA and other applicable securities laws. Such statements can
be identified by the use of the forward-looking words "anticipate,"
"estimate," "project," "believe," "intend," "plan," "expect,"
"hope", "indicated" or similar words. These statements discuss
future expectations; contain projections regarding future
developments, operations or financial conditions; or state other
forward-looking information. Such statements are based upon
assumptions and assessments made by us in light of our experience
and perception of historical trends, current conditions, expected
future developments; and other factors we believe to be
appropriate. These forward-looking statements involve various
important risks, uncertainties and other factors, many of which are
beyond our control, which could cause our actual results to differ
materially from those expressed in the forward-looking
statements.
Some of the key factors that could cause actual results to
differ materially from those expressed in the forward-looking
statements include:
- changes in our cash flow or use of cash in various business
activities; and
- risks related to other factors described under "Risk
Factors" in other reports and statements filed by us with the
Securities and Exchange Commission, including without limitation
our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q
(available at www.sec.gov).
Forward-looking statements speak only as of the date they are
made, and we undertake no obligation to update such forward-looking
statements, except as required by law. Management believes these
forward-looking statements to be reasonable; however, you should
not place undue reliance on such statements that are based on
current expectations.
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SOURCE Lancaster Colony Corporation