June 26, the company increased its quarterly dividend 8% to $0.33 per share. The dividend is payable Aug. 1, 2012, to shareholders of record July 10, 2012. The yield based on the new payout is 3.5%.
“We view dividends and dividend growth as a key component of value creation for shareholders,” said General Mills Chairman and Chief Executive Officer Ken Powell.
Over the past five years, which was a challenging period for the capital markets overall, General Mills’ dividends per share increased at an 11 percent compound annual rate. The company’s dividend yield has averaged roughly 3 percent over this same period.
GIS manufactures and markets branded packaged consumer food products worldwide, including Big G cereals and Betty Crocker desserts/baking mixes. It also supplies branded and unbranded food products to the foodservice and commercial baking industries.
Full Disclosure: No position in the aforementioned securities. See a list of all my dividend growth holdings here.
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