The Marzetti Company (NASDAQ:MZTI) is an interesting dividend story precisely because it is easy to overlook. Investors who knew it as Lancaster Colony may not immediately connect the new Marzetti name with a business that has increased its regular dividend for 63 consecutive years. The 2025 rebrand also means the company is now operating under a consumer-facing name that is much more closely **** ociated with its food brands. The latest fiscal-year results give both sides of the dividend argument something to work with.
Photo by Dan Dennis on Unsplash
The strongest argument is the track record. The Marzetti Company (NASDAQ:MZTI) increased its regular cash dividend for the 63rd consecutive year in fiscal 2026. The latest quarterly dividend was $1.00 per share, compared with $0.95 in the year-ago quarter, while the fiscal-year dividend was $3.95 per share, up from $3.75. That puts Marzetti among an unusually small group of companies with such a long record of consecutive dividend increases.
That history matters because the company has maintained the streak through very different economic environments. The dividend is not simply the result of a recent management commitment; it is part of a capital-allocation culture that has been maintained for decades. Fiscal 2026 operating cash flow reached a record $283.8 million, up $22.3 million from the prior year. The company paid $108.8 million in dividends during the year. On those figures, the dividend consumed roughly 38% of operating cash flow, leaving substantial cash generation after the dividend.
That is one of the more encouraging aspects of the latest results. The dividend is not being funded by accounting earnings alone. The Marzetti Company (NASDAQ:MZTI) is generating considerably more operating cash than it is distributing to shareholders. The company's earnings performance also improved. Fiscal 2026 net income was $191.6 million, or $6.98 per diluted share, compared with $167.3 million, or $6.07 per diluted share, in fiscal 2025. Adjusted diluted EPS was $6.83, compared with $6.72 a year earlier.
#year #million #operating
Photo by Dan Dennis on Unsplash
The strongest argument is the track record. The Marzetti Company (NASDAQ:MZTI) increased its regular cash dividend for the 63rd consecutive year in fiscal 2026. The latest quarterly dividend was $1.00 per share, compared with $0.95 in the year-ago quarter, while the fiscal-year dividend was $3.95 per share, up from $3.75. That puts Marzetti among an unusually small group of companies with such a long record of consecutive dividend increases.
That history matters because the company has maintained the streak through very different economic environments. The dividend is not simply the result of a recent management commitment; it is part of a capital-allocation culture that has been maintained for decades. Fiscal 2026 operating cash flow reached a record $283.8 million, up $22.3 million from the prior year. The company paid $108.8 million in dividends during the year. On those figures, the dividend consumed roughly 38% of operating cash flow, leaving substantial cash generation after the dividend.
That is one of the more encouraging aspects of the latest results. The dividend is not being funded by accounting earnings alone. The Marzetti Company (NASDAQ:MZTI) is generating considerably more operating cash than it is distributing to shareholders. The company's earnings performance also improved. Fiscal 2026 net income was $191.6 million, or $6.98 per diluted share, compared with $167.3 million, or $6.07 per diluted share, in fiscal 2025. Adjusted diluted EPS was $6.83, compared with $6.72 a year earlier.
#year #million #operating
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