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Shares of Darden Restaurants (DRI) trade 2.5% lower after missing with its top-line in FQ4 and...

Shares of Darden Restaurants (DRI) trade 2.5% lower after missing with its top-line in FQ4 and issuing FY13 same-restaurant sales estimates for its three biggest chains a shade below previously announced targets. The company upped its dividend payout to $0.50 a share, bringing DRI's yield up to 3.96%.
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  • Dividend Disciple
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    "Given our ability to consistently generate strong cash flows, today we announced an increase in our dividend of $0.50 per share payable on August 1, 2012, to shareholders of record at July 10, 2012. We previously paid a quarterly dividend of $0.43 per share or $1.72 per share on an annual basis. Based on the $0.50 quarterly dividend declaration, our indicated annual dividend is $2 per share, an increase of 16%. This equates to a payout ratio on a forward basis of approximately 50% based on the upper end of our fiscal 2013 diluted EPS expectation. We have increased our dividend by 100% over the last 3 years, which speaks to the consistent cash flow we generate and our intent to return more capital to shareholders through dividends." - Earnings Transcript
    22 Jun 2012, 04:06 PM Reply Like
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