Smucker Raises Dividend
J.M. Smucker is slathering on a little extra jelly for its shareholders. The company has elected to lift its dividend to $0.58 per share, to be paid on Sept. 3 to shareholders of record as of Aug. 16. That amount is $0.06, or 12%, higher than the preceding distribution of $0.52, which was handed out in each of Smucker's past four quarters.
In the press release announcing the pleasant news, the company quoted CEO Richard Smucker as saying that the increase "reflects the confidence we have in the long-term growth of our business and our ability to generate strong cash flow."
The new dividend annualizes to $2.32 per share. That yields 2.2% at Smucker's most recent closing stock price of $106.66.
The article Smucker Raises Dividend originally appeared on Fool.com.Fool contributor Eric Volkman has no position in J.M. Smucker. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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