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The soup maker's board approved a quarterly dividend of $0.25 per share, down from $0.39, to speed up debt reduction
Campbell's cut its quarterly dividend by 36% on Thursday and projected another year of declining net sales, as the company works to pay down debt and offset persistent cost pressures in its snacks business.
The company's board approved a quarterly dividend of $0.25 per share, down from $0.39, payable on November 2 to shareholders of record as of October 1, the company said. On an annualized basis, the payout falls to $1.00 per share from $1.56.
For fiscal 2027, Campbell's projected net sales to fall between 2% and 4%, with adjusted earnings per share in the range of $1.65 to $1.80. Analysts had expected a net sales decline of about 0.8% and adjusted earnings per share of $1.86, according to Reuters.
