Cracker Barrel Old Country Store, Inc (CBRL) released their results this morning and reported great results with increase in revenue and profits. Revenue increased by over 6% YoY. It also reported over 5% increase in same store sales. The company also increased their full year forecast. The stock is up more than 4% today after the results.
In addition to that, it announced a new quarterly dividend of $1.10 up from the current dividend of $1.00. This represents a 10% increase. The new dividend is payable on August 5th with a ex-div date of July 15th. The new dividend represents a yield of 3.00% based on current price. I hold 15 shares and this increases by projected annual dividends by $6.00, from $60.00 to $66.00.
The company also announced a special dividend of $3.00 to be paid along with the quarterly dividend. This should provide a boost of $45.00 to my dividend income this year.