Cracker Barrel Slashes Its Dividend as It Shakes Up Operations, Sending Stock Plunging
Cracker Barrel(CBRL) investopedia.com·2024-05-18 00:00
Key TakeawaysCracker Barrel Old Country Store cuts its dividend 81% as it undertakes a “strategic transformation” of the restaurant and novelty store chain.The company will reduce its quarterly dividend to 25 cents from $1.30.Cracker Barrel also warned its results for the current and next quarter will be lower than previously anticipated. Shares of Cracker Barrel Old Country Store (CBRL) plunged over 12% in intraday trading Friday after the restaurant and novelty store chain slashed its dividend as it embar ...