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Lancaster Colony Stock To Go Ex-dividend Tomorrow (LANC)

NEW YORK ( TheStreet) -- The ex-dividend date for Lancaster Colony Corporation (Nasdaq: LANC) is tomorrow, December 7, 2011. Owners of shares as of market close today will be eligible for a dividend of 36 cents per share. At a price of $70.26 as of 9:30 a.m. ET, the dividend yield is 2.1%.

The average volume for Lancaster Colony has been 119,200 shares per day over the past 30 days. Lancaster Colony has a market cap of $1.87 billion and is part of the consumer goods sector and food & beverage industry. Shares are up 22.1% year to date as of the close of trading on Monday.

Lancaster Colony Corporation engages in the manufacture and marketing of consumer products focusing primarily on specialty foods for the retail and foodservice markets in the United States. The company operates in two segments, Specialty Foods, and Glassware and Candles. The company has a P/E ratio of 18.1, equal to the average food & beverage industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Lancaster Colony as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Lancaster Colony Ratings Report.

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