Welcome to our dedicated page for Lancaster Colony news (Ticker: LANC), a resource for investors and traders seeking the latest updates and insights on Lancaster Colony stock.
LANC represents the historical ticker for Lancaster Colony Corporation, a manufacturer and marketer of specialty food products for the retail and foodservice channels. Company news releases describe Lancaster Colony’s operations through Retail and Foodservice segments and highlight its transition to the new corporate name, The Marzetti Company, and new trading symbol MZTI on the Nasdaq Global Select Market.
News related to LANC and The Marzetti Company includes quarterly and annual financial results, segment performance for Retail and Foodservice, and information on cost savings programs and manufacturing network changes. Earnings releases provide details on net sales, gross profit, operating income, restructuring and impairment charges, and other financial metrics, along with commentary on factors such as consumer demand, restaurant traffic, and product mix.
Additional news coverage includes announcements about dividend declarations and the company’s long record of consecutive years of increased regular cash dividends and consecutive quarterly cash dividend payments. Releases also describe acquisitions of sauce and dressing production facilities, temporary supply agreements connected to those acquisitions, and plans to optimize the manufacturing network, including the planned closure of certain facilities.
Subsidiary-focused news from T. Marzetti Company, a wholly owned subsidiary prior to the name change, covers leadership appointments, product launches, and licensing activities related to specialty food products. These items illustrate how the broader organization develops and markets specialty food offerings for both retail and foodservice customers.
Investors and followers of the historical LANC symbol can use this news stream to review Lancaster Colony’s and The Marzetti Company’s reported financial results, dividend actions, manufacturing updates, and subsidiary developments over time.
Lancaster Colony Corporation (LANC) reported record fiscal fourth quarter net sales of $385.6 million, up 20.2%, and for the fiscal year, net sales reached $1.5 billion, a 9.9% increase. Retail segment net sales rose 11.4% to $214.3 million, while Foodservice sales surged 33.3% to $171.3 million. Net income for the fourth quarter was $31.7 million or $1.15 per diluted share, reflecting a modest increase from last year. Despite these successes, increased costs from commodities and Project Ascent impacted profits. Looking ahead, growth in Retail and Foodservice is anticipated amid rising costs.
Lancaster Colony Corporation (Nasdaq: LANC) has announced a quarterly cash dividend of 75 cents per share, payable on September 30, 2021, to shareholders of record on September 10, 2021. This dividend marks the company's 58th consecutive year of increases, reflecting its strong financial position. CEO David A. Ciesinski highlighted this as the 233rd consecutive quarterly cash dividend since September 1963. Additionally, the company confirmed the date for its annual shareholder meeting, set for November 10, 2021.
Lancaster Colony Corporation (Nasdaq: LANC) will announce its fourth quarter and fiscal year 2021 financial results on August 26, 2021, before market opening. A conference call for discussing these results will be held at 10:00 am ET on the same day, which will be available via a live webcast on the company's website. Lancaster Colony is known for manufacturing and marketing specialty food products for both retail and foodservice sectors.
Lancaster Colony Corporation (Nasdaq: LANC) announced a quarterly cash dividend of 75 cents per share, payable on June 30, 2021, to shareholders of record on June 9, 2021. This maintains the higher dividend level set six months ago, marking the company's 58th consecutive year of increased dividends. The current fiscal year's annual payout is $2.95 per share, up from $2.75 in fiscal 2020. CEO David A. Ciesinski highlighted the company's strong financial position as a factor in this decision, reflecting continued shareholder confidence.
Lancaster Colony Corporation (LANC) reported a strong fiscal Q3 2021, with consolidated net sales reaching a record $357.2 million, an 11.2% increase from the previous year. Retail sales grew 17.1%, driven by popular licensed products, while Foodservice sales increased 4.6%. Gross profit rose 17.7% to $90.6 million, and operating income was up 24.7% to $37.4 million. Net income for the quarter was $28.9 million, or $1.05 per diluted share. Looking ahead, the company anticipates continued growth in Retail and improved Foodservice sales as consumer demand rises with the easing of COVID-19 restrictions.
Lancaster Colony Corporation (Nasdaq: LANC) will release its third quarter fiscal 2021 financial results on May 4, 2021, before market opening. A conference call is scheduled for the same day at 10:00 am ET to discuss the results. The call will be available via webcast on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice sectors.
Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 75 cents per share, payable on March 31, 2021, to shareholders of record as of March 9, 2021. This maintains the increased dividend level set three months ago, marking the 58th consecutive year of regular cash dividend increases. The indicated annual payout for the fiscal year ending June 30, 2021 is $2.95 per share, up from $2.75 in fiscal 2020. The company has paid 231 consecutive quarterly cash dividends since September 1963.
Lancaster Colony Corporation (Nasdaq: LANC) announced the appointment of Elliot K. Fullen to its Board of Directors, effective Feb. 24, 2021. Fullen, a Senior Advisor at Arsenal Capital Partners, brings over 30 years of experience in corporate strategy, mergers and acquisitions, and supply chain management. His previous roles include Vice President at Hexion Specialty Chemicals. Lancaster's Chairman, John B. Gerlach, Jr., emphasized Fullen's diverse expertise, which will enhance the Board's capabilities to drive business growth and better serve stakeholders.
Lancaster Colony Corporation (LANC) reported a record fiscal Q2 net sales of $375.0 million, up 5.6% from $355.1 million last year. Retail sales soared 19.5% to $222.6 million, driven by increased at-home food consumption during COVID-19 and strong sales of licensed products. However, Foodservice sales declined 9.7% to $152.4 million. Gross profit rose 7.0% to $106.8 million, and operating income increased 8.4% to $58.6 million. Net income showed slight growth at $1.62 per diluted share, impacted by higher manufacturing costs and Project Ascent expenditures.
Lancaster Colony Corporation (Nasdaq: LANC) will release its second quarter fiscal 2021 financial results on February 4, 2021, before market opening. A conference call will follow at 10:00 am ET to discuss these results, which will be available for live webcasting on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice sectors.