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Gains for Domino's U.S. business are helping boost shares to their highest level in more than two years

Gains for Domino's U.S. business are helping boost shares to their highest level in more than two years

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  • Shares of Domino's Pizza rose to their highest level in more than two years as the pizza chain reported better-than-expected same-store sales in the United States.
  • The company raised its quarterly dividend by 25% to $1.51 per share.
  • Domino's also announced an additional $1 billion stock buyback.

Domino's Pizza (DPZ) posted better-than-expected earnings on the strength of its U.S. business, raised its dividend, and added to its stock buyback program. Shares were up more than 6% to $462.54 as of 11:50 a.m. ET.

The pizza delivery chain reported fourth-quarter earnings per share (EPS) of $4.48, above expectations. Revenue rose 0.8% from a year ago to $1.4 billion, below estimates.

The company's same-store sales in the United States rose 2.8%, triple the increase a year ago and ahead of analysts' expectations. International store sales rose 0.1%.

CEO Russell Weiner said that Domino's “positive U.S. transactions and same-store sales growth in both our delivery and fulfillment channels” reflect the company's “strength and momentum.”

Domino's announced it will boost its quarterly dividend to $1.51 per share from $1.21, which will be paid on March 29 to shareholders of record on March 15.

The Board of Directors also authorized an additional $1 billion share repurchase on top of the remaining $141.3 million from the previous repurchase plan.

Domino's Pizza shares rose to their highest level since January 2022 following the news.

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