Lancaster Colony Corporation (NASDAQ:LANC) announced today that its Board of Directors has declared a quarterly cash dividend of 90 cents per common share, marking 61 consecutive years of increasing regular cash dividends. The company is one of only 13 U.S. companies with 61 straight years of regular cash dividend increases. The dividend will be payable December 29, 2023 to shareholders of record on December 4, 2023. As of the record date for today’s annual shareholder meeting, there were 27,518,405 common shares outstanding.
Voting at the annual meeting, shareholders reelected three incumbent directors. They are Robert L. Fox, Account Executive at Thurston Springer Financial; John B. Gerlach, Jr., Executive Chairman of Lancaster Colony; and Robert P. Ostryniec, retired Chief Product Supply Officer for Keurig Green Mountain, Inc.
CEO David A. Ciesinski said, “The increased regular cash dividend reflects the company’s continued strong financial position and will be the 242nd 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, 2024 is $3.55 per share, up from the $3.35 per share paid in fiscal 2023.
