This Restaurant Holding Company Just Suspended Its Rich Dividend Payout
If this were a typical fiscal third-quarter report for Darden Restaurants (NYSE: DRI), investors' focus would be trained on the company's comparable sales, from its biggest brands including Olive Garden and Texas LongHorn Steakhouse, to its smaller concepts like Yard House and Cheddar's Scratch Kitchen.
But this isn't your typical earnings reporting period. Today, investors honed in on the steps Darden is taking to weather the COVID-19 pandemic, including the suspension of its dividend, which yielded a handsome 3% on an annualized basis early this year. As we discuss the company's results below, and its actions regarding the coronavirus outbreak, note that all comparative numbers are presented against the prior-year quarter.
Data source: Darden Restaurants.
Source Fool.com
