General Mills Raises Dividend Again
General Mills [[GIS]] announced yesterday that the company will raise their quarterly dividend by 9 percent to $.305 per share.
This latest dividend increase from General Mills will push the current yield on their stock to 3.3 percent based on yesterday’s closing price.
Ken Powell, General Mills Chairman and Chief Executive Officer, commented on the dividend increase, “Strong and growing cash dividends are an important component of General Mills’ total return to our shareholders. The dividend increase announced today is a reflection of General Mills’ robust financial condition and excellent future growth prospects.”
Last year General Mills raised their dividend by 17 percent and the company has now been paying dividends for 112 consecutive years.
The General Mills dividend will be payable on August 1, 2011 to shareholders of record as of July 11, 2011.