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Before Friday’s opening bell, the parent company of Olive Garden and LongHorn Steakhouse, Darden Restaurants (DRI ), reported higher results for the third quarter, which came in above analysts’ estimates.
Chief Executive Eugene “Gene” Lee commented: “Our strategy of getting back to basics and elevating the food, service, and atmosphere in our restaurants to deliver the best possible guest experience is driving these sales and profitability improvements."
Darden declared its next 55 cent quarterly dividend. The dividend will be paid on May 1 to shareholders of record on April 10.
Shares of DRI were up $3.03, or 4.67% during premarket trading Friday. The stock is up 10.64% YTD.