Darden Restaurants, Inc. (DRI) To Go Ex-Dividend on July 10th

Darden Restaurants, Inc. (NYSE:DRI) announced a quarterly dividend on Thursday, June 25th. Stockholders of record on Friday, July 10th will be given a dividend of 1.62 per share by the restaurant operator on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, July 10th. This is a 8.0% increase from Darden Restaurants’s previous quarterly dividend of $1.50.

Darden Restaurants has increased its dividend by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Darden Restaurants has a payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Darden Restaurants to earn $12.36 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 52.4%.

Darden Restaurants Price Performance

Shares of Darden Restaurants stock opened at $204.46 on Wednesday. The firm has a market cap of $23.42 billion, a PE ratio of 19.70, a P/E/G ratio of 2.02 and a beta of 0.60. Darden Restaurants has a twelve month low of $169.00 and a twelve month high of $220.65. The company has a quick ratio of 0.21, a current ratio of 0.31 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $202.46 and a 200 day moving average price of $202.16.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 25th. The restaurant operator reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.63 by $0.03. Darden Restaurants had a return on equity of 57.44% and a net margin of 9.13%.The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the business posted $2.98 earnings per share. Darden Restaurants’s revenue for the quarter was up 13.7% on a year-over-year basis. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. Sell-side analysts predict that Darden Restaurants will post 11.28 earnings per share for the current fiscal year.

About Darden Restaurants

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.