Yahoo Finance How Much Did ConAgra Foods Return to Shareholders in Fiscal 3Q16?
How ConAgra Foods Continued to Drive Profitability in Fiscal 3Q16
Dividend paid
ConAgra Foods (CAG) has a dividend yield of 2.2%, as of April 11, 2016. The company’s management has raised the dividend at an average annual rate of 4.6% over five years. For 2015, the company returned a total of $1.00 per share to shareholders in the form of dividends.
ConAgra Foods returned $109 million of cash to shareholders through dividends in fiscal 3Q16. The company’s capital expenditure came to $100 million in the third quarter. The company didn’t repurchase any shares in fiscal 3Q16, and it has ~132 million shares outstanding on its existing share repurchase authorization. The company paid a dividend of $0.25 per share on March 1 to shareholders of record on January 29, 2016. The company believes that its capital allocation strategy appropriately balances a top-tier dividend, debt reduction, share repurchases, and additional growth investments.
Recent dividend declared
On the day of the fiscal 3Q16 earnings release, ConAgra Foods’ Board of Directors declared a quarterly dividend of $0.25 per share on its common stock. This will be paid on June 1, 2016, to shareholders of record at the close of business on April 29, 2016.
ConAgra Foods’ peers include Bunge (BG), WhiteWave Foods (WWAV), The J.M. Smucker Company (SJM), and Flowers Foods (FLO). They have posted returns of -17.7%, -0.31%, 3.6%, and -13.7%, respectively, on a year-to-date basis, as of April 11. The PowerShares DWA Consumer Staples Momentum Portfolio (PSL) invests 2.1% of its portfolio in SJM.
Scroll down to read how ConAgra Foods’ stock reacted to the fiscal 3Q16 earnings release.
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