Darden Restaurants reported higher fourth-quarter net income and announced a dividend increase along with a new share repurchase program of up to $1.5 billion. Net income rose to $407.8 million, or $3.54 per share, from $304 million, or $2.58 per share, a year earlier. Adjusted earnings per share were $3.66, up from $2.98, while sales increased to $3.72 billion from $3.27 billion. The board declared a quarterly cash dividend of $1.62 per share, an 8% increase, payable on August 3 to shareholders of record as of July 10. The new buyback program, authorized on June 24, replaces the previous authorization. For fiscal 2027, the company expects sales of $13.60 billion to $13.75 billion and earnings per share of $11.10 to $11.35.
Darden Restaurants IncDarden reported higher Q4 earnings, raised dividend 8%, and announced a $1.5B buyback.