Flowers Foods Increases Dividend Rate, Splits Stock
The board of directors for Flowers Foods announced a three-for-two stock split at the annual shareholders meeting this week and increased the total annual cash dividend by $0.035.
On June 19, the split and dividend will be payable to all investors recorded by June 5. Flowers investors will own three shares for every two they held prior to June 5 and the quarterly dividend will be $0.1125 per share, or $0.45 annually.
"Flowers Foods is in an excellent position to reward our shareholders with an increased dividend, allowing our investors to continue participating in the company's success over the long term," said George E. Deese, executive chairman of Flowers' board of directors, in a statement. "In addition, the stock split will increase the liquidity of our stock and attract new shareholders."
The article Flowers Foods Increases Dividend Rate, Splits Stock originally appeared on Fool.com.
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