LOUISVILLE - Texas Roadhouse , Inc. (NASDAQ:TXRH), a casual dining restaurant chain, has announced a cash dividend of $0.61 per share. The dividend is payable on June 25, 2024, to shareholders of record as of June 12, 2024. This decision was made by the company's Board of Directors on Thursday.
The company, which was established in 1993, has expanded to over 750 locations across 49 states and ten foreign countries. Texas Roadhouse operates within the casual dining segment and has shown growth in its number of establishments.
While the announcement of the dividend is a factual decision made by the Board, the company also included forward-looking statements in their press release. These statements address potential risks and uncertainties that could affect the company's performance, such as weather events, health epidemics, labor or supply chain shortages, changes in consumer spending due to macroeconomic conditions including inflation, as well as food safety concerns.
Investors are cautioned by the company not to place undue reliance on these forward-looking statements, which reflect the company's views only as of the date they were made. Texas Roadhouse states that it does not have an obligation to update any forward-looking statements unless required by law.
The information contained in this article is based on a press release statement from Texas Roadhouse, Inc. The company's shares are traded on the NASDAQ stock exchange, and it has been a part of the casual dining market for over three decades. The announcement of the dividend is part of the company's ongoing financial activities and is a key piece of information for shareholders and potential investors.
InvestingPro Insights
Texas Roadhouse, Inc. (NASDAQ:TXRH) continues to reward its shareholders with a steady dividend, marking a notable milestone by maintaining dividend payments for 14 consecutive years. The company's commitment to shareholder returns is further evidenced by a 10.91% dividend growth in the last twelve months as of Q1 2024, reflecting a strong financial discipline and a positive outlook for cash flow generation.
InvestingPro Tips highlight that Texas Roadhouse has raised its dividend for three consecutive years, suggesting a reliable income stream for investors. Moreover, 22 analysts have revised their earnings upwards for the upcoming period, indicating potential for continued financial strength and possibly more robust dividend payouts in the future.
For those looking to dive deeper into Texas Roadhouse's financial health, additional tips are available on InvestingPro, including insights on the company's valuation multiples and stock volatility.
InvestingPro Data showcases a robust market capitalization of $11.29 billion USD, underpinned by a P/E ratio of 34.16, which, while high, may be justified by the company's growth prospects and consistent performance. The company's revenue has grown by 13.73% over the last twelve months as of Q1 2024, a testament to its expansion strategy and operational success in the casual dining segment.
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