Whole Foods Posts In-Line Q4 Earnings and Raises Dividend 43% (WFM)

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Natural foods supermarket chain Whole Foods Market, Inc. ( WFM ) late Wednesday posted fiscal fourth quarter earnings results that met analyst expectations and boosted its quarterly dividend payout significantly.

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 2012.

The Bottom Line
Shares of Whole Foods Market ( WFM ) 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. ( WFM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com

This article appears in: Investing , Stocks

Referenced Stocks: WFM



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