With a potential March Madness-bump coming, keep an eye on beaten down shares of Domino’s Pizza (DPZ). Sure, company sales just fell short of expectations. And it did trim financial forecasts, however, it did just raise its quarterly dividend to $1.21 per share, payable March 30 to shareholders of record as of March 15. In addition, CEO Russell Weiner just paid $1 million on March 2 for 3,333 Domino’s shares, an average price of $303.58 each.
“We pride ourselves on being a work-in-progress brand and there is no better way to describe this period in our history,” said Russell Weiner, Domino’s Chief Executive Officer.
“The Domino’s system has a lot to be proud of while also having opportunities to address. We experienced significant pressure on our U.S. delivery business in 2022 and focused our efforts on creating solutions. We also drove continued momentum in our U.S. carryout business and achieved strong international store growth. Over half of our orders in the U.S. now come through the carryout channel, and we are #1 in both the delivery and carryout QSR pizza segments. Our brand and company are better positioned than ever to win in the marketplace and create meaningful value for our shareholders.”