News

Sonic adds dividend program

August 8, 2014

Sonic Corp. this week initiated a cash dividend program under which the company will pay a regular quarterly cash dividend to shareholders of its common stock.

According to a news release, the board of directors declared the first quarterly cash dividend of $0.09 per share of common stock to be paid to shareholders of record as of the close of business on Nov. 12, with a payment date of Nov. 21.

"We believe the initiation of a cash dividend and our continued commitment to a share repurchase program highlight the confidence we have in our brand and business model. As we look forward, we see that our multilayered growth strategy should generate ample cash to optimize shareholder value in this manner," CEO Clifford Hudson said in the release.