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

NEW YORK ( TheStreet) -- The ex-dividend date for Lancaster Colony Corporation (Nasdaq: LANC) is tomorrow, March 7, 2012. Owners of shares as of market close today will be eligible for a dividend of 36 cents per share. At a price of $64.18 as of 9:30 a.m. ET, the dividend yield is 2.3%.

The average volume for Lancaster Colony has been 100,100 shares per day over the past 30 days. Lancaster Colony has a market cap of $1.89 billion and is part of the consumer goods sector and food & beverage industry. Shares are down 6.7% 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 17.4, below the average food & beverage industry P/E ratio of 18.2 and below 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 largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Lancaster Colony Ratings Report.

See our dividend calendar or top-yielding stocks list.
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