The ex-dividend date for Darden Restaurants (NYSE:DRI) is tomorrow, October 5, 2012. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $55.78 as of 9:30 a.m., the dividend yield is 3.6%.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- The ex-dividend date for Darden Restaurants (NYSE: DRI) is tomorrow, October 5, 2012. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $55.78 as of 9:30 a.m. ET, the dividend yield is 3.6%. The average volume for Darden has been 1.4 million shares per day over the past 30 days. Darden has a market cap of $7.13 billion and is part of the services sector and leisure industry. Shares are up 21.7% year to date as of the close of trading on Wednesday. Darden Restaurants, Inc. owns and operates full service restaurants in the United States and Canada. It operates restaurants under the Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama Breeze, Seasons 52, Eddie V's Prime Seafood, and Wildfish Seafood Grille brand names. The company has a P/E ratio of 15.2, equal to the average leisure industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Darden as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, growth in earnings per share, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Darden Ratings Report. See our dividend calendar or top-yielding stocks list. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.