Cracker Barrel (CBRL) Stock Falls on 80% Dividend Cut


  • Cracker Barrel (CBRL) stock is down on a major dividend cut.
  • The company is reducing its quarterly dividend by 80% to 25 cents.
  • This comes as it plans to realign its business.
CBRL Stock - Cracker Barrel (CBRL) Stock Falls on 80% Dividend Cut

Source: Jonathan Weiss /

Cracker Barrel (NASDAQ:CBRL) stock is falling hard on Friday after the restaurant chain announced a major cut to its dividend.

Cracker Barrel is cutting its quarterly dividend by 80% to just 25 cents per share. This is part of its capital allocation plan to support increased investment and drive organic growth.

Cracker Barrel is enacting this dividend cut to support its refining of the brand. This has it planning several changes for its business as a way to draw in new customers. That includes optimizing the menu as well as evolving the store and guest experience.

In addition to this, Cracker Barrel warned that its fiscal third quarter and Q4 2024 earnings will be below estimates. The company is blaming this on traffic being lower than expected.

Cracker Barrel President and CEO Julie Masino said the following about the changes:

“Cracker Barrel is an iconic brand with an exceptionally strong foundation, and I firmly believe our plans will allow us to capitalize on our strengths and deliver long-term success. Executing this strategy will require increased investment in our business, and we have reduced our dividend so that we can allocate capital to generate organic growth and drive meaningful value creation over time.”

CBRL Stock Movement Today

CBRL stock is experiencing heavy trading on Friday alongside its dividend update. This has more than 2 million shares traded as of this writing. That’s already above its daily average trading volume of about 752,000 shares.

CBRL stock is down 14.8% as of Friday morning.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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