CBRL Group Ups Dividend, Plans Buyback

CBRL Group Inc. (Nasdaq: CBRL), operator of Cracker Barrel Old Country Store restaurants, said Thursday its board increased the company’s quarterly dividend by 29 percent to 18 cents per share, from 14 cents previously.

The dividend is payable on Nov. 5 to shareholders of record on Oct. 19.

The company also said its board approved the repurchase of up to 1 million outstanding common shares from time to time through open market purchases.

CBRL Group operates 564 Cracker Barrel Old Country Store restaurants and gift shops located in 41 states.

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PAYOUT YIELD ANALYSIS

At a recent share price of $40, the 1 million share buyback promises to return $40 million to shareholders or $1.69 per share.  Combined with the forward dividend of $0.72, the Total Payout is projected to be $2.41 per share if the buyback is completed over the next 4 quarters.  At $40 per share, the Total Payout Yield is 6.0%.

- Payout Yield Staff 

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