The new annualised dividend rate of $1.88 per share represents a 9% increase over dividends of $1.72 per share paid in fiscal 2009.
“Strong and growing cash dividends are an important component of General Mills’ total return to our shareholders,” said chairman and CEO, Ken Powell. “The 9% dividend increase is a reflection of our company’s robust financial condition and excellent future growth prospects.”
General Mills and its predecessor firm have now paid shareholder dividends without interruption or reduction for 110 years.
Based on the 29 June closing price of $55.84 for General Mills common shares, the new annualised dividend rate of $1.88 represents a yield of 3.4%.
Source: General Mills
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