The Board of Directors of Lamb Weston Holdings approved a 14% annualized increase to the quarterly dividend. The Board has decided to institute a quarterly dividend of USD0.28 per share of the company’s common stock.
On March 3, 2023, the dividend will be paid out to stockholders who were recorded as holding shares as of the close of business on February 3, 2023.
“This increase is a clear demonstration of our capital allocation priority of returning cash to shareholders. 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 president and CEO Tom Werner.
Restaurants and retail establishments all over the world source their frozen potato, sweet potato, appetizer, and vegetable products from Lamb Weston. The company, along with its joint venture partners, is a leading supplier in this industry. Lamb Weston has been the leader in innovation within the industry for more than seven decades, introducing novel products that simplify back-of-house management for its customers.
Find out more at: https://www.lambweston.com/