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) 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.