Key Developments For Bob Evans Farms Inc
Bob Evans Farms Inc (BOBE.O) (Nasdaq)
Bob Evans Farms, Inc. Increases Quarterly Dividend 12.5%; Authorizes New Share Repurchase Program
Bob Evans Farms, Inc. announced that its Board of Directors has approved a 12.5% increase in the quarterly cash dividend from $0.16 per share to $0.18 per share on the Company's outstanding common stock ($0.01 par value). The increased dividend is payable on December 15 to stockholders of record at the close of business on December 4. The Company also announced that its Board of Directors has authorized a stock repurchase program of up to one million shares. The repurchase authorization is effective immediately, through the remainder of the Company's 2010 fiscal year, which ends April 30, 2010.
Bob Evans Farms, Inc. Reaffirms FY 2010 Guidance
Bob Evans Farms, Inc. reaffirmed its estimate for fiscal 2010 operating income of approximately $110-$115 million. The outlook for fiscal 2010 includes the impact of a 53rd week, which the Company estimates will contribute an incremental $31 million in net sales and $5 million in operating income. The Company expects consolidated year-over-year flat net sales for fiscal 2010. The Company reported revenue of $1.750 billion in fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $1.758 billion and EBIT of $114 million for the same period.
Bob Evans Farms, Inc. Announces CFO Change-Form 8-K
Bob Evans Farms, Inc. reported in its Form 8-K that Donald J. Radkoski retired from his positions as the Chief Financial Officer (CFO), Treasurer and Assistant Secretary of the Company. Tod P. Spornhauer, accepted a promotion to succeed Mr. Radkoski as the Company's CFO and Treasurer.
Bob Evans Farms, Inc. Announces Quarterly Dividend
Bob Evans Farms, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on the Company's outstanding common stock ($0.01 par value). The dividend is payable on September 15 to stockholders of record at the close of business on September 4.
Bob Evans Farms, Inc. Reaffirms FY 2010 EBIT Guidance; Lowers FY 2010 Revenue Guidance
Bob Evans Farms, Inc. reaffirmed fiscal 2010 operating income guidance of approximately $110-$115 million. The Company assumes consolidated year-over-year net sales to be flat. The Company reported revenue of $1.750 billion in fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report EBIT of $115 million and revenue of $1.781 billion for fiscal 2010.
