HOUSTON, Nov. 15, 2018 (GLOBE NEWSWIRE) — Sysco Corporation (NYSE:SYY) today announced that the board of directors has approved an 8 percent increase in the quarterly cash dividend to $0.39 per share from the current $0.36 per share. The new dividend is payable on Jan. 25, 2019, to common stockholders of record at the close of business on Jan. 4, 2019.
“Through its dividends, Sysco has shared its success with its shareholders every quarter since our founding as a public company in 1970,” said Tom Bené, Sysco’s president and chief executive officer. “It is an important part of our commitment to bring value to shareholders.”
The company remains committed to a prioritized capital allocation philosophy, including investing in its business with a Capital Expenditures forecast of approximately 1.2% of sales, consistently growing its dividend, participating in M&A and a balanced approach to share buybacks and paying down debt. Furthermore, the company has recently increased its pace of planned share repurchase activity and is announcing a modest increase from the planned amount of $1 billion in fiscal 2019 repurchases.
About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With over 67,000 associates, the company operates approximately 330 distribution facilities worldwide and serves more than 600,000 customer locations. For fiscal 2018 that ended June 30, 2018, the company generated sales of more than $58 billion.
For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at https://twitter.com/Sysco. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at http://investors.sysco.com/, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. Investors should also follow us at www.twitter.com/SyscoStock and download the Sysco IR App, available on the iTunes App Store and the Google Play Market. In addition, investors should continue to review our news releases and filings with the Securities and Exchange Commission. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.
For more information contact:
Camilla Zuckero
Media and Investor Relations Contact
[email protected]
T 281-899-1839
