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Darden Beats Earnings Expectations, Raises Dividend. Its Stock Is Barely Budging.
Darden Restaurants stock was slipping Thursday despite reporting better-than-expected earnings and sales, and increasing its dividend. The parent company of Olive Garden, LongHorn Steakhouse, and other restaurants reported a fourth-quarter adjusted profit of $2.24 a share, beating forecasts for $2.21 a share, on sales of $2.6 billion, topping expectations for $2.54 billion. For the next fiscal year, Darden (DRI) projects diluted net earnings per share between $7.40 and $8.
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