20160831 Q4 FY17 Dividend Press Release 8K

0000868611-16-000112.txt : 20160804 0000868611-16-000112.hdr.sgml : 20160804 20160804165653 ACCESSION NUMBER: 0000868611-16-000112 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160804 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160804 DATE AS OF CHANGE: 20160804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SONIC CORP CENTRAL INDEX KEY: 0000868611 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 731371046 STATE OF INCORPORATION: DE FISCAL YEAR END: 0816 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18859 FILM NUMBER: 161808211 BUSINESS ADDRESS: STREET 1: 300 JOHNNY BENCH DRIVE CITY: OKLAHOMA CITY STATE: OK ZIP: 73104 BUSINESS PHONE: 4052255000 MAIL ADDRESS: STREET 1: 300 JOHNNY BENCH DRIVE CITY: OKLAHOMA CITY STATE: OK ZIP: 73104 8-K 1 sonc-20160804x8k.htm 8-K 20160831 Q4 FY17 Dividend Press Release 8K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________

FORM 8-K

_____________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

August 4, 2016

Date of Report (Date of earliest event reported)

_____________________

SONIC CORP.

(Exact name of registrant as specified in its charter)

_____________________


Delaware	0-18859	73-1371046
(State or other jurisdiction of	(Commission File Number)	(I.R.S. Employer Identification No.)
incorporation or organization)


300 Johnny Bench Drive		73104
Oklahoma City, Oklahoma		(Zip Code)
(Address of Principal Executive Offices)


	(405) 225-5000
	(Registrant’s telephone number, including area code)

_____________________

Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On August 4, 2016, the Company issued a press release announcing that its Board of Directors has approved the continuation of a quarterly cash dividend program for fiscal year 2017. The press release is attached as Exhibit 99.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99 Press Release, dated August 4, 2016

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	REGISTRANT:

	SONIC CORP.

Date: August 4, 2016	By: /s/ Claudia S. San Pedro
	Claudia S. San Pedro,
	Executive Vice President and Chief Financial Officer


EXHIBIT INDEX


Exhibit No.	Description
99	Press Release, dated August 4, 2016

EX-99 2 sonc-20160804xex99.htm EX-99 20160831 Q4 FY17 Dividend Press Release


Contact:	Corey Horsch
	Vice President, Investor Relations
	and Treasurer
	(405) 225-4800

SONIC announces 27% increase to dividend program in fiscal 2017

OKLAHOMA CITY (August 4, 2016) – Sonic Corp. (NASDAQ: SONC), the nation’s largest chain of drive-in restaurants, today announced that its Board of Directors has approved the continuation of the Company's quarterly cash dividend program. Beginning in the first fiscal quarter of 2017, the Company expects to declare a quarterly dividend of $0.14 per share of common stock, which represents an increase of 27% from the current quarterly dividend of $0.11 per share.

"Our multi-layered growth strategy continues to generate significant cash to drive shareholder value," said Cliff Hudson, Sonic Corp. CEO. "Over the past three fiscal years, we have returned in excess of $370 million to shareholders through the combination of dividend payments and the repurchase of 13 million shares of our common stock, or approximately 23% of our outstanding shares. We believe the dividend program complements our repurchase program, providing an additional lever to deliver value to shareholders. We remain confident in the strength of the brand and in the ability of our business model to continue to drive strong future returns."

The Company completed its fiscal 2016 share repurchase program in July, spending $126 million during the fiscal year to repurchase more than 4.4 million shares of its common stock. As previously announced, the Board of Directors has authorized an additional $155 million repurchase program through the end of fiscal 2017. Payment of a dividend of $0.11 per share is set for August 19, 2016 to shareholders of record as of the close of business on August 10, 2016.

Future declaration of quarterly dividends and the establishment of future record and payment dates are subject to the final determination of the company's Board of Directors.

About Sonic

SONIC, America's Drive-In is the nation's largest drive-in restaurant chain serving more than 3 million customers every day. Nearly 90 percent of SONIC's 3,500 drive-in locations are owned and operated by local business men and women. Over more than 60 years, SONIC has delighted guests with signature menu items, more than 1.3 million drink combinations and friendly service by iconic Carhops. Since the 2009 launch of SONIC's Limeades for Learning philanthropic campaign in partnership with DonorsChoose.org, SONIC has donated more than $6 million to public school teachers nationwide to fund essential learning materials and innovative teaching resources to inspire creativity and learning in today's youth. To learn more about Sonic Corp. (NASDAQ/NM: SONC), please visit sonicdrivein.com and please visit or follow us on Facebook and Twitter. To learn more about SONIC's Limeades for Learning initiative, please visit Limeadesforlearning.com.

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements reflect management’s expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those expressed in, or underlying, these forward-looking statements are detailed in the company’s annual and quarterly report filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly release revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission.

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