Lassonde Industries Inc. has declared an upcoming dividend of CA$0.50 per share, with its ex-dividend date set for November 22nd. The dividend is scheduled to be paid on December 15th to shareholders of record. This announcement comes as the company continues to demonstrate a strong commitment to returning value to its shareholders, building on last year's total dividend distribution of CA$2.00 per share.
With a current share price of CA$143.87 (USD1 = CAD1.3724), Lassonde's trailing yield stands at approximately 1.4%. The company's approach to dividends is underpinned by a conservative payout ratio, which is currently 5.4% of after-tax profit and 14% of free cash flow. This financial prudence is complemented by the company's impressive earnings growth rate of 277% per annum over the past five years.
Lassonde's strategy involves reinvesting a significant portion of its profits back into the business, a practice that has contributed to its substantial earnings growth. Despite this focus on reinvestment, the company has still managed to increase its dividend by an average of 4.9% annually over the past decade. This rate of increase is outpaced by the growth in earnings per share, indicating that Lassonde is retaining more profits to fuel further business expansion.
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