Clarcor (CLC) and ConAgra (CAG) Posted Impressive Dividends
October 15, 2009 9:22 AM
Clarcor(NYSE: CLC) and ConAgra (NYSE: CAG) posted impressive quarterly results and announced an increase in dividends.
Clarcor Inc., posted a dividend increase of 8.3% which was mainly due to a strong third quarter EPS of $0.42 and a cash flow of $93 million for the first nine months, up $14 million from the previous year. On the other hand, ConAgra Foods Inc., a packaged food processing giant in the US, has seen a breakthrough with a recent dividend increase of 5%, after 25 years of non-movement.
This can be attributed to a significant increase in earnings and operating profits due to share buybacks and a reduction in operating costs. With a yearly dividend of $0.80 per share, a current dividend yield of 3.8% and a payout ratio of 47%, the company is projected to sustain its dividend ratio over the fiscal year.
