8-KEarnings & ResultsShareholder MattersExhibits & Filings

DARDEN RESTAURANTS INC 8-K Report, Financial Results (Sep 28, 2011)

Filed September 28, 2011For Securities:DRI

Summary

Darden Restaurants, Inc. (DRI) filed an 8-K on September 28, 2011, primarily to report its first-quarter financial results and announce a quarterly dividend. The company reported diluted earnings per share of $0.78 for the first quarter and declared a quarterly dividend of $0.43 per share. This filing also provides details on the outcomes of the company's Annual Meeting of Shareholders held on September 22, 2011. Key shareholder actions included the election of twelve directors to the Board, approval of an amended Employee Stock Purchase Plan, and an advisory vote on executive compensation. Shareholders also approved an annual frequency for future advisory votes on executive compensation and ratified the appointment of KPMG LLP as the independent registered public accounting firm for fiscal year 2012. Investors can refer to the furnished news release for detailed financial performance information.

Key Highlights

  • 1Darden Restaurants reported first-quarter diluted earnings per share (EPS) of $0.78.
  • 2A quarterly dividend of $0.43 per share was declared.
  • 3All twelve incumbent directors were re-elected to the Board of Directors.
  • 4Shareholders approved the amended Employee Stock Purchase Plan.
  • 5An advisory vote on executive compensation was approved.
  • 6Shareholders voted for an annual frequency for future advisory votes on executive compensation.
  • 7KPMG LLP was ratified as the independent registered public accounting firm for fiscal year 2012.

Frequently Asked Questions

Darden Restaurants reported first-quarter diluted earnings per share (EPS) of $0.78 and declared a quarterly dividend of $0.43 per share. The detailed financial performance is available in the news release furnished as Exhibit 99.

At the Annual Meeting, shareholders elected all twelve directors, approved an amended Employee Stock Purchase Plan, and approved an advisory vote on executive compensation. They also determined that future advisory votes on executive compensation should occur annually and ratified the appointment of KPMG LLP as the independent auditor.

Based on the provided information, all proposals voted upon at the Annual Meeting received a majority of the votes cast in favor, including the election of directors, the employee stock purchase plan, executive compensation advisory vote, frequency of executive compensation advisory vote, and ratification of the auditor. There were no significant proposals that failed to pass based on these results.