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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

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