Lamb Weston Hikes Dividend By 14%

Lamb Weston Holdings Inc LW said its Board of Directors approved a 14% annualized increase to the quarterly dividend.
The Board declared a quarterly dividend of $0.28 per share of Lamb Weston common stock.
The dividend is payable on March 3, 2023, to stockholders of record as of the close of business on February 3, 2023.
"This priority, along with investing in our business through capacity expansions and acquisitions to support long-term growth, and maintaining a strong balance sheet, consistently drive our capital allocation decisions," said CEO Tom Werner.
The company held $485.3 million in cash and equivalents as of August 28, 2022.
Lamb Weston is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world.
Price Action: LW shares are trading higher by 0.69% at $87.68 in premarket on the last check Thursday.
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