logo
Plus   Neg
Share
Email

Darden Restaurants Issues FY19 Outlook; Increases Dividend 19% - Quick Facts

Darden Restaurants, Inc., (DRI) announced, for fiscal 2019, the company estimates net earnings per share from continuing operations in the range of $5.40 to $5.56. The company anticipates same-restaurant sales growth of 1.0% to 2.0%, and total sales growth of 4.0% to 5.0%.

For the fourth-quarter, adjusted net earnings per share from continuing operations increased 17.8% to $1.39. Total sales from continuing operations increased 10.3% to $2.13 billion.

CEO Gene Lee said: "Our strategy remains unchanged, and our operators' consistent focus on being brilliant with the basics has allowed us to continue building guest loyalty while taking market share."

On June 20, 2018, the Board of Directors increased the quarterly dividend 19% to $0.75 per common share. The quarterly dividend is payable on August 1, 2018 to shareholders of record on July 10, 2018.

The company's Annual Meeting of Shareholders will be held on September 19, 2018. The record date for shareholders to vote in the Annual Meeting is July 25, 2018.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
MGM Resorts International Inc. filed federal lawsuits against more than 1,000 victims of last October's deadly mass shooting in Las Vegas in an effort to avoid liability for the incident. MGM owns the Mandalay Bay Resort, from where the gunman Stephen Paddock had launched the attack. Paddock opened fire on a large crowd at an open-air country music concert, killing 58 people. Morgan Stanley (MS) reported 43 percent growth in profit for the second quarter, reflecting strong performance in Investment Banking and sales and trading. Quarterly net revenues rose 12 percent from the prior year. Both earnings per share and revenues topped analysts' expectations. Aerospace and defense giant Boeing announced its plans to use blockchain technologies along with artificial intelligence to track unmanned air vehicles in flight. The company has collaborated with artificial intelligence or AI technology company SparkCognition. They would deliver unmanned aircraft system traffic management or UTM solutions with a focus on safe integration of autonomous air vehicle
Follow RTT