The ex-dividend date for Darden Restaurants (NYSE:DRI) is tomorrow, January 8, 2013. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $46.16 as of 9:31 a.m., the dividend yield is 4.5%.
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, January 8, 2013. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $46.16 as of 9:31 a.m. ET, the dividend yield is 4.5%. The average volume for Darden has been 1.6 million shares per day over the past 30 days. Darden has a market cap of $5.8 billion and is part of the services sector and leisure industry. Shares are down 0.5% year to date as of the close of trading on Friday. 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 12.8, 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, reasonable valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Darden Ratings Report. See our dividend calendar or top-yielding stocks list. Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade.