Conagra Brands Guides FY24 Adj. EPS Below Estimates; Boosts Dividend - Update

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, branded food company Conagra Brands, Inc. (CAG) initiated its adjusted earnings and organic net sales growth guidance for the full-year 2024.

For fiscal 2024, the company now projects adjusted earnings in a range of $2.70 to $2.75 per share on organic net sales growth of about 1 percent.

On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $2.85 per share on revenue growth of 2.0 percent to $12.55 billion for the year. Analysts' estimates typically exclude special items.

The Company's Board of Directors also approved an increase of the annual dividend to $1.40 per share from $1.32 per share. The Company's new quarterly dividend payment of $0.35 per share of Conagra common stock will be paid on August 31, 2023 to stockholders of record as of the close of business on July 31, 2023.

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