20161130 Q1 Dividend Press Release 8K

0000868611-16-000117.txt : 20161020 0000868611-16-000117.hdr.sgml : 20161020 20161020164727 ACCESSION NUMBER: 0000868611-16-000117 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20161020 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20161020 DATE AS OF CHANGE: 20161020 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: 161944731 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-20161020x8k.htm 8-K 20161130 Q1 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

October 20, 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 October 20, 2016, the Company issued a press release announcing that its Board of Directors has approved an increase to the Company’s share repurchase program. The press release also announced the Board’s declaration of a cash dividend of $0.14 per share of common stock payable on November 18, 2016, to shareholders of record as of the close of business on November 9, 2016. The press release is attached as Exhibit 99.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99 Press Release, dated October 20, 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: October 20, 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 October 20, 2016

EX-99 2 sonc-20161020xex99.htm EX-99 20161130 Q1 Dividend Press Release


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

sonic increases share repurchase authorization by $40 million

Declares Quarterly Dividend

OKLAHOMA CITY (October 20, 2016) – Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that its Board of Directors has increased its authorization under the share repurchase program by $40 million. The additional authorization allows for up to $195 million of common stock to be repurchased through August 31, 2017. In fiscal 2016, the company repurchased approximately $148 million in common stock, including $22 million under the current program, leaving $173 million remaining under the enhanced authorization for repurchase during fiscal 2017. Share repurchases may be made from time to time in the open market or otherwise, including through an accelerated share repurchase program, under the terms of a Rule 10b5-1 plan, in privately negotiated transactions or in round lot or block transactions.

The company also announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share of common stock to be paid to shareholders of record as of the close of business on November 9, 2016, with a payment date of November 18, 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.

SONC-F