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.
Lancaster Colony Corporation, now The Marzetti Company, reports developments tied to its specialty foods business for retail and foodservice customers. Recurring updates cover sales and earnings for the Retail and Foodservice segments, demand for branded and licensed products, product launches, restaurant-chain foodservice supply, cost programs, dividends and governance actions.
The company’s product portfolio includes Marzetti dressings and dips, New York Bakery garlic breads, Sister Schubert’s dinner rolls and licensed sauces, dressings and frozen rolls associated with restaurant brands such as Olive Garden, Chick-fil-A, Buffalo Wild Wings, Arby’s, Subway and Texas Roadhouse.
Lancaster Colony Corporation (LANC) announced a quarterly cash dividend of 75 cents per share, continuing its streak of 58 consecutive years of dividend increases. This dividend will be paid on December 31, 2020 to shareholders recorded by December 7, 2020. The indicated annual payout for the fiscal year ending June 30, 2021 is $2.95 per share, up from $2.75 in fiscal 2020. Additionally, three incumbent directors were reelected at the annual meeting, further demonstrating the company's stability.
Lancaster Colony Corporation (LANC) reported fiscal Q1 2021 results, showing a 3.6% increase in consolidated net sales to $349.2 million, with retail net sales up 16.6% to $193.7 million due to pandemic-driven demand for at-home food consumption. However, foodservice sales declined 9.0% to $155.5 million. Gross profit rose slightly to $92.7 million, affected by higher manufacturing costs. Operating income dropped to $48.9 million, with net income down $3.7 million to $37.1 million, equating to $1.35 per diluted share. The company maintained its cash dividend at $0.70 per share.
Lancaster Colony Corporation (Nasdaq: LANC) will announce its first quarter fiscal 2021 financial results before the market opens on November 4, 2020. A conference call to discuss these results is scheduled for the same day at 10:00 am ET. The call will be available via live webcast on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice channels.
Lancaster Colony Corporation (LANC) reported fourth-quarter results with consolidated net sales of $320.9 million, a slight decline of 0.9% from last year. Retail sales surged by 24.5% to $192.4 million, driven by increased at-home consumption during COVID-19. However, Foodservice sales fell by 24.1% to $128.4 million. Gross profit improved by 13.9% to $89.1 million, despite COVID-related costs. For the fiscal year, net sales reached a record $1.334 billion, up 2.0%. Net income declined to $137 million, with EPS at $4.97. The company maintained its quarterly dividend at $0.70 per share.
Lancaster Colony Corporation (Nasdaq: LANC) has scheduled its annual shareholder meeting on November 11, 2020, at 1:00 p.m. ET. This year’s event will be conducted virtually, allowing shareholders to vote and ask questions online. The record date for eligible shareholders is September 14, 2020. Further details will be provided in proxy materials sent to shareholders in early October. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice markets.
Lancaster Colony Corporation (Nasdaq: LANC) has declared a quarterly cash dividend of 70 cents per share, payable on September 30, 2020, to shareholders of record on September 9, 2020. This marks the 57th consecutive year of increased regular cash dividends, with this being the 229th consecutive quarterly cash dividend since September 1963. The stable dividend reflects the company's strong financial position amidst ongoing market challenges.
Lancaster Colony Corporation (Nasdaq: LANC) will release its fourth quarter and fiscal year 2020 financial results on August 27, 2020, before market opening. A conference call to discuss these results is scheduled for 10:00 am ET on the same day, which will be webcast live on the company's website. Lancaster Colony specializes in manufacturing and marketing specialty food products for retail and foodservice channels.