Frisch's Restaurants Inc.
) recently announced its decision to hike quarterly dividend by 2
cents to 18 cents per share, reflecting a 12.5% increase from the
prior dividend payout. This equates to an annual payout of 72
cents per share. The latest hike brings the forward annual
dividend yield, as of Sep 12, 2013, to 3.65%. The increased
dividend will be paid on Oct 10, 2013 to stockholders of record
as on Sep 26, 2013.
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Frisch's Restaurants which operates under the brand name of
'Frisch's Big Boy' has a consistent track record of paying
quarterly dividends even during the economic downturn. The
company has a history of reporting profits every year since it
went public in 1960, and paid cash dividends every quarter during
this period. The last dividend hike of 6.7% was announced in Sep
2011. Prior to that, Frisch's announced a dividend hike of 15% in
Sep 2010 and 8% in Sep 2009.
Frisch's is not the only company in the restaurant sector paying
attractive dividends. Another restaurant company,
Brinker International Inc.
), recently increased its quarterly dividend by 20% to 24 cents
per share. Frisch's Restaurants' current annualized dividend
yield inched past Brinker's forward annualized dividend yield of
2.40% as of Sep 12, 2013.
Yet another behemoth in this sector,
), has a history of increasing dividends every year since the
inception of its dividend payout program in 1976. Another
Yum! Brands Inc.
) has also been raising its dividend over the last few years,
irrespective of the economic peaks and valleys.
We appreciate Frisch's Restaurants' efforts to consistently
return long-term shareholder and franchisee value even amidst
slower economic growth. However, Frisch's Restaurants currently
carries Zacks Rank #4 (Sell).