Diageo Increasing Dividend 6%

Diageo/quotes/comstock/23s!a:dge (DGE: 0.00 N/A) announced today that the company is recommending increasing their dividend by 6% to 23.50 pence per share.

 

The dividend increase would lift DEO’s current yield to approximately 2.9% based on today’s closing price.

 

The dividend comes as Diageo reported fiscal 2010 revenues grew 5% driven by strong growth in their international segment.

 

CEO Paul Walsh commented, “The impact of the global economic crisis varied by market and the strength of the recovery appears to be equally variable. However, as we demonstrated this year, the global diversity of our business, together with the strength and range of our brands and the agility we have demonstrated gives us confidence that in fiscal 2011 we will be able to improve on the organic operating profit growth we have delivered this year. We are recommending a 6% increase in the final dividend and expect to at least maintain this rate of dividend growth in fiscal 2011.”

 

Diageo shares have fallen 6% since the beginning of the year and have performed inline with the broader market indices.

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