Darden Restaurants, symbol DRI, declared a quarterly dividend of $.56 per share payable on November 1, 2016 to shareholders on October 10. DRI goes ex-dividend on October 6.
This dividend increase brings DRI back into focus. With the spin off of Four Corners Property Trust, symbol FCPT, where DRI share holders received 1 share of FCPT for every 3 shares of DRI, total income this quarter would be $.56 from DRI and $.0808 from FCPT or $.64. This represents an income increase of over 16% from one year ago before the spin off.
Good work Darden. DRI was a Dividend Machine in 2011, 2012 and 2013.
Disclosure: I have not personal position in either DRI or FCPT. All three Dividend Machine portfolios must hold all positions by definition