Sonic Declares Quarterly Dividend
April 12 2018 - 4:05PM
Business Wire
Sonic Corp. (NASDAQ:SONC), the nation's largest chain of
drive-in restaurants, today announced that its Board of Directors
declared a quarterly cash dividend of $0.16 per share of
common stock to be paid to shareholders of record as of the close
of business on May 9, 2018, with a payment date of May 18, 2018. In
addition to the dividend, the company has a share repurchase
authorization for up to $160 million of its common stock
through August 31, 2018.
Future declaration of quarterly dividends and the establishment
of future record and payment dates are subject to the final
determination of the company's Board of Directors.
About Sonic
SONIC, America's Drive-In is the nation's largest drive-in
restaurant chain serving approximately 3 million customers every
day. Nearly 94 percent of SONIC's 3,500 drive-in locations are
owned and operated by local business men and women. For 65 years,
SONIC has delighted guests with signature menu items, 1.3 million
drink combinations and friendly service by iconic Carhops. Since
the 2009 launch of SONIC's Limeades for Learning philanthropic
campaign in partnership with DonorsChoose.org, SONIC has donated
$9.5 million to public school teachers nationwide to fund essential
learning materials and innovative teaching resources to inspire
creativity and learning in their students. To learn more about
Sonic Corp. (NASDAQ/NM: SONC), please visit sonicdrivein.com and
please visit or follow us on Facebook and Twitter. To learn more
about SONIC's Limeades for Learning initiative, please visit
LimeadesforLearning.com.
This press release contains forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements reflect management’s expectations regarding future
events and operating performance and speak only as of the date
hereof. These forward-looking statements involve a number of risks
and uncertainties. Factors that could cause actual results to
differ materially from those expressed in, or underlying, these
forward-looking statements are detailed in the company’s annual and
quarterly report filings with the Securities and Exchange
Commission. The company undertakes no obligation to publicly
release revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unforeseen events, except as required to be reported
under the rules and regulations of the Securities and Exchange
Commission.
SONC-F
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version on businesswire.com: https://www.businesswire.com/news/home/20180412006193/en/
Sonic Corp.Corey Horsch, 405-225-4800Vice President, Chief
Financial Officerand Treasurer
Sonic (NASDAQ:SONC)
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