Darden Investors Catch Big Dividend Increase
- June 23, 2010
- Dividend News, Dividend Stocks, Top Dividend Stocks
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Darden Restaurants (DRI: 49.42 +0.59%) announced today that the company will increase their quarterly dividend by 28% to $.32 per share.
Following the big dividend increase, investors will receive a 3.1% dividend yield.
The dividend increase comes as Darden, the operator of the ever-popular Olive Garden and Red Lobster Restaurants, reported earnings that were $.07 below Wall Street’s expectations. The disappointing results follow six consecutive quarters of better than expected results. However, the company did provide better than expected EPS guidance.
Darden shares have gained 19% since the beginning of the year, but cautious consumers may hold back further gains in the near term.
The dividend will be payable on August 2, 2010 to shareholders of record as of the close of business on July 9, 2010.
