Market Insider

Cracker Barrel shares up on earnings beat, special dividend

Share
Source: Cracker Barrel

Shares of Cracker Barrel Old Country Store were higher after the company posted an earnings beat, increased its dividend and declared a special dividend.

The company reported earnings of $1.82 per share ex-items on revenues of $700 million. Wall Street had expected Cracker Barrel to post earnings of $1.80 per share on $706 million in revenue, according to a consensus estimate from Thomson Reuters.

The stock was up 8.4 percent at Wednesday's close.

Saltwater Oyster Depot in northern California
Want to open a restaurant? Now this funding is available
The new Midnight Moonshine Burger on the menu at Carl's Jr. and Hardee's
Carl's Jr., Hardee's to sell Midnight Moonshine Burger
Spaghetti carbonara
Recipe for restaurant success? Find your voice

Cracker Barrel increased its quarterly dividend from $1.10 a share to $1.15 a share. It also announced a special dividend of $3.25 per share payable July 29.

For fiscal 2016, the company now sees adjusted earnings between $7.45 and $7.55 a share. It had previously forecast adjusted earnings between $7.40 and $7.50 per share.

Cracker Barrel shares are up more than 29 percent this year.