Fri Sep 20 13:07:37 UTC 2024: ## Darden Restaurants Boosts Dividend, Announces Quarterly Payout of $1.40 Per Share

**ORLANDO, FL – September 20, 2024** – Darden Restaurants, Inc. (NYSE: DRI), the parent company of popular chains like Olive Garden and LongHorn Steakhouse, announced a significant increase in its quarterly dividend. The company will distribute $1.40 per share to stockholders of record on October 10th, payable on November 1st. This represents a 9% jump from the previous quarter’s payout and translates to an annualized dividend of $5.60, yielding 3.25%.

The dividend increase reflects Darden Restaurants’ consistent growth and strong financial performance. The company has raised its dividend payments by an average of 62.3% per year over the past three years. Analysts are confident that the company can continue to cover its dividend obligations, with an expected future payout ratio of 53.8%.

Darden Restaurants’ stock opened at $172.27 on Friday. The company’s financial performance has been strong, with a healthy quick ratio of 0.24, a current ratio of 0.38, and a debt-to-equity ratio of 0.61.

Recent analyst ratings have been positive, with several firms maintaining “buy” recommendations. Argus lowered their price objective to $175.00 but maintained a “buy” rating. Citigroup dropped their target price to $191.00 but also retained a “buy” recommendation.

Darden Restaurants continues to be a popular choice for investors seeking a reliable dividend-paying stock in the restaurant industry. The company’s strong financial performance and commitment to shareholder returns make it a compelling investment opportunity.

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