Dividend Coverage: This Restaurant Operator Declared a Special Dividend of $3.50; Will Trade Ex-Dividend on July 12, 2017

LONDON, UK / ACCESSWIRE / July 10, 2017 / Pro-Trader Daily takes a closer look at Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) as the Company’s stock will begin trading ex-dividend on July 12, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior to the ex-dividend date that is by latest the end of the trading session on July 11, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On May 23, 2017, Cracker Barrel announced that its Board of Directors increased the quarterly dividend to $1.20 per share on the Company’s common stock, which represents a 4.3% increase over the Company’s previous quarterly dividend of $1.15. The quarterly dividend is payable on August 04, 2017, to shareholders of record on July 14, 2017.

The Board of Directors also declared a special dividend of $3.50 per share on the Company’s common stock. This is the Company’s third special dividend declaration. The special dividend is payable on July 28, 2017, to shareholders of record on July 14, 2017.

Cracker Barrel’s indicated dividend represents a yield of 2.88%, substantially higher compared to the average dividend yield of 1.96% for the Services sector. The Company has increased dividend for seven consecutive years.

Dividend Insights

Cracker Barrel has a dividend payout ratio of 57.7%, which indicates that the Company distributes approximately $0.58 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Cracker Barrel is estimated to report earnings of $8.95 in the coming year, which is more than double of Company’s annualized dividend of $4.80.

As on March 31, 2017, Cracker Barrel had cash and cash equivalents worth $183.69 million. The liquidity provides a cushion for the Company to absorb any fluctuations in its earnings and pay its dividend without interruption.

About the Company

Cracker Barrel provides a friendly home-away-from-home in its old country stores and restaurants. Established in 1969 in Lebanon, Tennessee, Cracker Barrel Old Country Store, Inc. and its affiliates operate 644 Cracker Barrel Old Country Store ® Company-owned locations in 44 states and own the fast casual restaurants Holler & Dash™. Nation’s Restaurant News’ 2016 Consumer Picks survey named Cracker Barrel Old Country Store® the Best Family-Dining Restaurant in America.

Recent Development for Cracker Barrel

On June 29, 2017, Cracker Barrel announced the return of “Operation Rocker: Cracker Barrel’s Summer Salute to Military Families” in partnership with its flagship non-profit partner Operation Homefront. To support Operation Homefront’s mission of building strong, stable, and secure military families, Cracker Barrel will donate a rocking chair to Operation Homefront for every adult rocker purchased on Cracker Barrel’s website from Independence Day weekend through Labor Day (June 30 to September 04, 2017). The rockers will support Operation Homefront programs including Homes on the Homefront, which places deserving US service members, veterans, and their families in mortgage-free homes.

Stock Performance

At the closing bell, on Friday, July 07, 2017, Cracker Barrel Old Country Store’s stock slightly slipped 0.46%, ending the trading session at $165.38. A total volume of 201.04 thousand shares has exchanged hands. The Company’s stock price advanced 4.03% in the last three months, 2.15% in the past six months, and 0.49% in the previous twelve months. The stock is trading at a PE ratio of 20.02 and has a dividend yield of 2.90%. The stock currently has a market cap of $3.95 billion.

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