Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Car rental company Hertz Global Holdings Inc. and biometric technology company CLEAR announced the introduction of biometric ID technology for car rentals. "Hertz Fast Lane powered by CLEAR" is a new service that allows travellers at airports to use fingerprint scanners and facial recognition technology to collect a rental car, instead of showing a physical ID. The recent massive cyber-attack on hotel chain Marriott International Inc. was part of a Chinese intelligence-gathering effort, the New York Times reported Tuesday, citing two people briefed on the investigation. The data breach affected about 500 million guests of the hotel chain. According to the NYT report, the hackers are suspected of working on behalf of the Ministry of State Security. Verizon Communications Inc. said that about 10,400 employees, or nearly 7 percent of its workforce, have accepted the company's voluntary buyout offer that was first announced in September. The voluntary buyout program is part of Verizon's efforts to cut costs and trim its workforce as it focuses on optimizing growth opportunities in 5G network service.
Follow RTT