The Board of Directors of Lamb Weston Holdings, Inc. (NYSE:LW) today approved a 14% annualized increase to the quarterly dividend. The Board declared a quarterly dividend of $0.28 per share of Lamb Weston common stock.
“This increase is a clear demonstration of our capital allocation priority of returning cash to shareholders. This priority, along with investing in our business through capacity expansions and acquisitions to support long-term growth, and maintaining a strong balance sheet, consistently drive our capital allocation decisions,” said President and Chief Executive Officer Tom Werner.
The dividend is payable on March 3, 2023, to stockholders of record as of the close of business on Feb. 3, 2023.