Domino’s Pizza boosts dividend by 18%, but yield is still well below the S&P 500
Domino’s Pizza Inc. raised its quarterly dividend by 18%, but the stock tumbled 7.3% in premarket trade Thursday after reporting fourth-quarter earnings, revenue and same-store sales that missed expectations. The new quarterly dividend of 65 cents a share, up from 55 cents a share, will be payable March 29 to shareholders of record on March 15. Based on Wednesday’s stock closing price of $278.49, the new annual dividend rate implies a dividend yield of 0.93%, compared with the implied yield for the S&P 500 of 2.03%, according to FactSet. The pizza chain’s stock has run up 21% over the past 12 months, while the S&P 500 has edged up 3.1%.
Source : MTV
