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

 

Date of Report (Date of earliest event reported):

July 27, 2016

 

THE CHEESECAKE FACTORY INCORPORATED

(Exact Name of Registrant as Specified in its Charter)

 

 

26901 Malibu Hills Road

Calabasas Hills, California 91301

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code:

(818) 871-3000

 

Not Applicable

(Former name or former address, if changed since last report)

 

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 (see General Instruction A.2. below):

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14.d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

ITEM 2.02        RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

 

The following information is intended to be furnished under Item 2.02 of Form 8-K, “Results of Operations and Financial Condition.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing.

 

In a press release dated July 27, 2016, The Cheesecake Factory Incorporated (the “Company”) reported financial results for the second quarter of fiscal 2016, which ended on June 28, 2016.  Total revenues were $558.9 million in the second quarter of fiscal 2016 as compared to $529.1 million in the prior year second quarter. Net income and diluted net income per share were $38.6 million and $0.78, respectively, in the second quarter of fiscal 2016. The full text of the press release is furnished herewith as Exhibit 99.1 to this Report.

 

ITEM 8.01         OTHER EVENTS.

 

 

On July 21, 2016, the Board of Directors of the Company declared a quarterly cash dividend of $0.24 per share which will be paid on August 23, 2016 to the stockholders of record at the close of business on August 10, 2016 of each share of the Company’s common stock.  This dividend represents a 20% increase in the dividend paid in the first quarter of fiscal 2016. Future dividends, if any, will be subject to Board approval.

 

On July 21, 2016, the Board of Directors of the Company increased the existing authorization to repurchase shares of the Company’s common stock by 7.5 million shares to 56.0 million shares. The Company continues to expect that it will return its free cash flow to shareholders in fiscal 2016 in the form of dividends and share repurchases. The share repurchase authorization does not have an expiration date, does not require the Company to purchase a specific number of shares and may be modified, suspended or terminated at any time.

 

 

 

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS.

 

(d)         Exhibits

 

99.1       Press release dated July 27, 2016 entitled, “The Cheesecake Factory Reports Results for Second Quarter of Fiscal 2016”

 

 

SIGNATURES

 

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.

 

 

Date:  July 27, 2016	THE CHEESECAKE FACTORY INCORPORATED
	By:	/s/ W. Douglas Benn
		W. Douglas Benn
		Executive Vice President and Chief Financial Officer

 

 

EXHIBIT INDEX

 

Exhibit		Description
99.1		Press release dated July 27, 2016 entitled, “The Cheesecake Factory Reports Results for Second Quarter of Fiscal 2016”