Del Taco stock rises after better-than-expected preliminary sales and dividend declared

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Del Taco Restaurants Inc. shares rose 2% in Tuesday premarket trading before retreating after the Mexican chain’s preliminary fourth-quarter earnings show better-than-expected sales and the company declared a dividend. Same-store sales rose 3.8% for the 16 weeks ending Dec. 29, 2020, and revenue totaled $156.1 million. The FactSet consensus was for 2.5% growth and revenue of $155.4 million. Del Taco declared a dividend of 4 cents per share payable on Feb. 23, 2021, to shareholders of record at the close of business on Feb. 2, 2021. Del Taco has also recently unveiled a new restaurant design the company calls “Fresh Flex” that requires a lower financial investment but includes more convenience features like drive-thru lanes. Del Taco stock has gained 19% over the last year while the S&P 500 index is up 16.4% for the period.
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