Lamb Weston Hikes Dividend By 14%

Lamb Weston Hikes Dividend By 14%
  • Lamb Weston Holdings Inc LW said its Board of Directors approved a 14% annualized increase to the quarterly dividend. 
  • The Board declared a quarterly dividend of $0.28 per share of Lamb Weston common stock.
  • The dividend is payable on March 3, 2023, to stockholders of record as of the close of business on February 3, 2023.
  • "This priority, along with investing in our business through capacity expansions and acquisitions to support long-term growth, and maintaining a strong balance sheet, consistently drive our capital allocation decisions," said CEO Tom Werner.
  • The company held $485.3 million in cash and equivalents as of August 28, 2022.
  • Lamb Weston is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world.
  • Price Action: LW shares are trading higher by 0.69% at $87.68 in premarket on the last check Thursday.
  • Photo Via Company

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