SyscoNYSE: SYY

HOUSTON, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) has announced that its Board of Directors has approved a regular quarterly cash dividend of $0.51 per share. This dividend will be paid on January 24, 2025, to shareholders who are on record as of the end of business on January 3, 2025.

On November 14, 2024, Sysco Corporation, the biggest food distributor in the world, donated $10,000 to City Harvest, New York's largest food rescue organization. This contribution is part of Sysco's Nourishing Neighbors ® program, which gives back a portion of the sales from Sysco branded products to local charities. The donation aims to support the communities where Sysco operates.

The company contributed $10,000 to Three Square Food Bank and prepared food boxes to make sure everyone can enjoy meals during the holiday season. They are committed to helping those in need. This donation will help provide support to the community.

During the company's annual Purpose Month, Sysco employees will hand out turkeys at community events. This initiative aims to support local communities. It's a great way for Sysco to give back and make a positive impact.

SYY's results for the first quarter of 2025 show better earnings and revenue. The company expects sales to rise by 4-5% and adjusted earnings per share to grow by 6-7% for the fiscal year 2025.

Sysco Corporation (NYSE:SYY) will hold its Q1 2025 Earnings Conference Call on October 29, 2024, at 10:00 AM ET. The call will feature company representatives including Kevin Kim, Kevin Hourican, and Kenny Cheung, along with participants from various financial institutions. Please note that this call is being recorded.

The main figures for Sysco (SYY) provide an overview of the company's performance for the quarter that ended in September 2024. However, it could be useful to compare these important metrics with Wall Street's predictions and the results from the same period last year.

Sysco's approach of combining internal growth with acquisitions is helping it maintain its leading role in the food service industry and lays a strong foundation for future growth. Even with the low profit margins common in this sector, Sysco demonstrates a strong financial position through steady cash flow and good management of working capital. While expanding internationally presents some challenges in terms of profitability, the company is focused on providing returns to shareholders and keeping its debt levels manageable to ensure financial stability.

SYY's first-quarter results are likely to reveal growth in its Food-Away-From-Home sector, as well as better efficiency due to improvements in supply chain productivity.