Natural foods supermarket chain Whole Foods Market, Inc. (
) late Wednesday posted fiscal fourth quarter earnings results that
met analyst expectations and boosted its quarterly dividend payout
The Austin, TX-based company reported fiscal fourth quarter net
income of $112.7 million, or 60 cents per share, compared with
$75.5 million, or 42 cents per share, in the year-ago period.
Revenue jumped 24% from last year to $2.91 billion.
On average, Wall Street analysts expected a matching profit of
60 cents per share, on matching revenue of $2.91 billion.
Looking ahead, WFM reiterated its previously-announced full-year
earnings outlook. The company's board of directors also approved a
43% increase to its quarterly dividend payout. The new dividend of
20 cents per share (up from 14 cents) will be paid on Jan. 29,
2013, with an ex-dividend date of Jan. 16, 2013.
Whole Foods shares fell $2.92, or -3%, in premarket trading
Thursday. The stock has gained about 38% since the beginning of
The Bottom Line
Shares of Whole Foods Market (
) will now have a .83% dividend yield, based on the higher dividend
payout and last night's closing stock price of $95.93. The stock
has technical support in the $90 price area. The stock is trading
near the all-time high price range of $100-$101 a share.
Whole Foods Market, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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