sonic corp (SONC) Key Developments
Sonic Corp. Declares Quarterly Cash Dividend
Sep 16 14
Sonic Corp. declares quarterly cash dividend of $0.09 per share resulting in an estimated payout of $19 million during the fiscal 2014.
Sonic Corp. Provides Earnings Guidance for the Fiscal 2015
Sep 16 14
Sonic Corp. provided earnings guidance for the fiscal 2015. The company expects its initiatives to drive earnings per share growth in fiscal 2015 at the higher end of its long-term 14% to 20% earnings per share growth target. The company also expects positive same-store sales in the low single digit range for the system; margin improvement of between 50 to 100 basis points, depending upon the degree of same-store sales growth at company drive-ins and commodity cost inflation; An income tax rate of between 37% to 37.5%, which may vary depending upon the reinstatement of certain tax credit programs; Capital expenditures of $30 million to $40 million; Free cash flow of $65 million to $75 million; Selling, general and administrative expenses of $75 million to $76 million reflecting increased investment in human resources to support the brand initiatives described above; Depreciation and amortization expense of $45.5 million to $46.5 million as a result of increased capital investment in fiscal 2014 and expected to result in solid double-digit earnings-per-share growth in the near and long term.
SONIC Announces Introduction of the New Cheesy Pub Chicken Sandwich
Sep 2 14
SONIC Drive-In continues to build its variety of premium chicken menu items with the introduction of the new Cheesy Pub Chicken Sandwich. With rich, cheesy flavors blended together perfectly atop the quality chicken fans have come to expect from SONIC, this is a flavor-packed sandwich that delivers when fall comfort food cravings call. SONIC's new Cheesy Pub Chicken Sandwich, available grilled, crispy or as a burger, has pub-inspired flavors like cheddar cheese sauce, sliced white cheddar cheese and zesty caramelized onion sauce to meet any fall comfort food cravings. The Cheesy Pub Chicken Sandwich is made with a 100% all-white meat grilled or crispy chicken breast topped with a pub style cheddar cheese sauce, sliced white cheddar cheese, zesty caramelized onion sauce with fresh lettuce and tomato, all sandwiched together in SONIC's signature ciabatta bun made with whole grain. Guests with a burger craving can order this sandwich with SONIC's 100% pure beef patty, too. The Cheesy Pub Chicken Sandwich or Burger is the perfect option for lunch or dinner -- pair it with Onion Rings and a Shake for a complete SONIC pub experience. Just like the entire SONIC menu, the Cheesy Pub Chicken Sandwich is made to order and available all day, but only for a limited time.
SONIC Drive-In Introduces New Waffle Cone Sundaes to Frozen Dessert Menu
Sep 2 14
SONIC Drive-In announced the launch of its new line of Waffle Cone Sundaes, offering guests even more ways to enjoy SONIC's Real Ice Cream offerings. Available in three new Waffle Cone Sundae flavor combinations, including REESE'S Peanut Butter Cups(R) & Chocolate, SNICKERS(R) Bar & Caramel and M&M's(R) Candies & Strawberry, the new Waffle Cone can also be customized, opening a world of dessert possibilities to creative dessert lovers. SONIC's Waffle Cone Sundaes are available in three new flavor combinations, including REESE'S Peanut Butter Cups(R) & Chocolate, SNICKERS(R) Bar & Caramel and M&M's(R) Candies & Strawberry. SONIC's new vanilla Waffle Cone is a sweet, crispy waffle shell that will take any ice cream lover's sweet tooth by surprise. The Waffle Cone is a treat all on its own, adding a punch of crunch to a classic vanilla Real Ice Cream cone. Guests that want something a little more adventurous may choose to add any and all available toppings to create their perfect loaded ice cream cone. Try any of SONIC's three new Waffle Cone Sundaes with next-level flavor combinations, including REESE'S Peanut Butter Cups(R) & Chocolate, SNICKERS(R) Bar & Caramel and M&M's(R) Candies & Strawberry, for an ice cream cone with real swagger.
Sonic Corp. Declares the First Quarterly Cash Dividend, Payable on November 21, 2014
Aug 7 14
Sonic Corp. announced that its Board of Directors initiated a cash dividend program under which the company will pay a regular quarterly cash dividend to shareholders of its common stock. 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 November 12, 2014, with a payment date of November 21, 2014.