Bob Evans boosts payout; authorizes stock buyback

AP News
Posted: Nov 19, 2009 6:37 PM

Restaurant company Bob Evans Farms Inc. said Thursday it will raise its quarterly dividend from 16 cents per share to 18 cents, and its board authorized a new share buyback program.

The dividend will be payable on Dec. 15 to shareholders of record as of Dec. 4.

The company also said it would repurchase up to one million shares. The buybacks could begin immediately and will run through April 30.

The shares closed at $25.43 on Thursday, down 75 cents, or 2.9 percent. They fell another penny in trading after hours.