Bob Evans To Pay Special Dividend After Sale Of Restaurant Business Completed

Bob Evans Farms Inc. said Monday it will pay a special dividend of $7.50 a share, following the completion of the previously disclosed sale of Bob Evans Restaurants and the acquisition of Pineland Farms Potato Company. The dividend will be payable June 16 to shareholders of record on May 30. The dividend is addition to the company's regular quarterly dividend of 34 cents a share. Bob Evans had announced in January the sale of Bob Evans Restaurants to private-equity firm Golden Gate Capital for $565 million. Bob Evans retained its packaged foods business. The stock, which was still inactive in premarket trade, has rallied 25% year to date, while the S&P 500 has gained 6.5%.