Lancaster Colony
Board of Directors
 |
Dr. Neeli Bendapudi, Director of IMS elected to the Lancaster Colony Board of Directors
COLUMBUS, Ohio, Aug. 24 /PRNewswire/ -- Lancaster Colony Corporation announced today that its Board of Directors has declared a quarterly cash dividend of 25 cents per share on the company's common stock, payable September 30, 2005, to shareholders of record on September 9, 2005. The board voted to continue the cash dividend at the higher level set nine months ago. At that time, the company marked 42 consecutive years of increasing cash dividends each year.
John B. Gerlach, Jr., chairman and chief executive officer of Lancaster Colony, said, "The dividend reflects the company's continued strong financial position and will be the 169th consecutive quarterly cash dividend paid by the company since September 1963." He noted that this dividend brings the indicated annual payout for the current fiscal year ending June 30, 2006, to $1.00 per share, up from the 98 cents per share paid in the fiscal year ended June 30, 2005. Currently, the company has approximately 34,236,000 common shares outstanding.
The company also announced that Dr. Neeli Bendapudi, 41, has been elected to the Board of Directors effective August 24. Dr. Bendapudi is a distinguished associate professor of marketing at The Ohio State University's Fisher College of Business and a marketing consultant. Mr. Gerlach said, "We are very fortunate to have Dr. Bendapudi join our Board of Directors. She has received many teaching honors, including Fisher College awards for teaching at the undergraduate, MBA and Executive MBA levels, and a national Outstanding Marketing Teacher award from The Academy of Marketing Science." Dr. Bendapudi replaces Kerrii B. Anderson, who resigned due to other business time commitments.
