Cracker Barrel (CBRL)
announced that its Board of Directors increased the quarterly dividend to $1.15 per share on the Company's common stock, which represents a 4.5% increase over the Company's previous quarterly dividend of $1.10. The quarterly dividend is payable on August 5, 2016 to shareholders of record on July 15, 2016.
The Board of Directors also declared a special dividend of $3.25 per share on the Company's common stock. The special dividend is payable on July 29, 2016 to shareholders of record on July 15, 2016.
Commenting on the quarterly and special dividend, Ms. Cochran said, "We believe the increase in our quarterly dividend and the decision to declare a special dividend reflects our Board's commitment to a balanced approach to capital allocation, and to an ongoing assessment of our financial results, capital investment and liquidity needs, and our ability to deliver total shareholder return."