Lancaster Colony Corporation (LANC), a renowned company in the consumer goods industry, has recently made an exciting announcement regarding its quarterly cash dividend. The company's Board of Directors declared an increase in the dividend payout, reflecting its strong financial position and commitment to rewarding shareholders. This article provides an overview of the dividend increase and highlights Lancaster Colony's remarkable track record of consistent dividend growth.

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Quarterly Dividend Amount and Record Date

The Board of Directors at Lancaster Colony Corporation has declared a quarterly cash dividend of 85 cents per common share. Shareholders who hold the company's stock as of June 9, 2023, will be eligible to receive the dividend. The dividend payout is scheduled for June 30, 2023, bringing joy to investors in the summer months.

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Maintaining a Strong Dividend Tradition

Lancaster Colony Corporation is proud to continue its long-standing tradition of increasing regular cash dividends. The recent announcement marks the company's 60th consecutive year of dividend increases. Such an achievement is rare, as only 13 U.S. companies have been able to maintain a streak of regular cash dividend increases for 60 years in a row. Lancaster Colony stands out as a testament to its commitment to shareholders and sustainable financial growth.

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CEO's Perspective

CEO David A. Ciesinski expressed his satisfaction with the decision to increase the dividend. He emphasized that the higher dividend payout reflects Lancaster Colony's strong financial position and serves as a recognition of the company's consistent performance. Ciesinski further noted that the upcoming dividend payment will be the 240th consecutive quarterly cash dividend paid by the company since September 1963, demonstrating its steadfast dedication to rewarding shareholders.

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Enhanced Payout for Fiscal Year 2023

In addition to the quarterly dividend increase, Lancaster Colony Corporation has also announced an enhanced annual payout for the current fiscal year ending June 30, 2023. The annual dividend for this fiscal year will amount to $3.35 per share, a notable increase compared to the $3.15 per share paid in fiscal 2022. This development provides further reassurance to shareholders regarding the company's commitment to long-term value creation.

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Members of LevelFields received the alert of this event on May 18, 4:10 PM ET

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