Lancaster Colony Continues Higher Cash Dividend
COLUMBUS, Ohio, Feb. 26, 2014
COLUMBUS, Ohio, Feb. 26, 2014 /PRNewswire/ --Lancaster Colony Corporation
(Nasdaq: LANC) announced today that its Board of Directors has declared a
quarterly cash dividend of 44 cents per share on the company's common stock,
payable March 31, 2014 to shareholders of record on March 7, 2014.
The board voted to continue the cash dividend at the higher level set three
months ago. The company is one of only 16 U.S. companies to have increased
regular cash dividends each year for 51 consecutive years.
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 203^rd 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, 2014 is $1.72 per share, up from
the $1.52 per share paid in fiscal 2013, excluding the $5 per share special
dividend paid in December 2012.
Common shares currently outstanding total approximately 27,294,000.
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" 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:
othe potential for loss of larger programs or key customer relationships;
othe extent to which future business acquisitions are completed and
ochanges in financial markets;
othe uncertainty regarding the effect of the sale of our candle
manufacturing and marketing operation;
oaccess to any required financing;
othe effect of consolidation of customers within key market channels;
othe success and cost of new product development efforts;
ochanges in demand for our products, which may result from loss of brand
reputation or customer goodwill;
othe possible occurrence of product recalls or other defective or
mislabeled product costs;
oprice and product competition;
ofluctuations in the cost and availability of raw materials;
oadverse changes in energy costs and other factors that may affect costs of
producing, distributing or transporting our products;
ostability of labor relations;
odependence on contract copackers and limited or exclusive sources for
ochanges in estimates in critical accounting judgments;
othe outcome of any litigation or arbitration; and
orisks 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.
SOURCE Lancaster Colony Corporation
Contact: John L. Boylan, Vice President, Treasurer and CFO, or Dale N.
Ganobsik, Director of Investor Relations, Lancaster Colony Corporation, Phone:
614/224?7141, Email: email@example.com
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