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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Darden",
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  "presentationDate": "2014-09-01 00:00:00",
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  "notes": "Includes specific callout regarding dividend reduction impact.",
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      "kind": "callout",
      "text": "If Remaining Darden attempted to maintain the same payout ratio, the dividend would be reduced by ~$40 million or a ~$0.32 reduction in dividend per share",
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      "text": "Dividend Payout Ratio: 115%",
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      "text": "Note: $ in millions. Assumes no cash and no debt at Specialty Restaurants, and unallocated G&A costs left at Darden. All FY15 figures shown on a 52 week, performance adjusted basis.",
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      "text": "Financials ($ in millions) for Darden, Remaining Darden, and Specialty Restaurants across FY14 and FY15E.",
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      "text": "Based on Expected Cash Flow Profiles, Our Board Concluded a Specialty Restaurant Separation Would Threaten Darden's Dividend and Credit Profile",
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      "text": "OVERALL LEVERAGE RATIOS BENEFIT FROM SPECIALTY RESTAURANTS GROWTH",
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