Dividend Increase Announcement
On May 25th, Flowers Foods announced a dividend increase of 4.5%. This will increase their dividend from $0.22 to $0.23. It is payable on June 22nd for shareholders of record on June 8th. The new dividend represents an annualized dividend amount of $0.92 per share as compared to the previous annualized dividend amount of $0.88 per share.
Flowers Foods Dividend Information
Annual Dividend: $0.92
Dividend Growth History: 20 years
Dividend Yield: 3.54%
Dividend Increase Effect
I am currently holding 40.407 shares of Flowers Foods stock in the More Dividends portfolio. With this 4.5% increase it will add an additional $1.62 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings the new grand total up to $2,610.40
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Current Stock Position
Flowers food is a position that I’ve held for many years. I originally bought the stock when all the headlines were talking about litigation issues with the delivery drivers. I didn’t feel like this would hurt the company’s core business so it seemed like a good time to buy in my opinion.
Since originally opening the position, the stock has pretty much traded sideways with very little growth. The company has steadily been increasing their dividend since I initiated the position but I honestly would like to see more growth in the share price.
Currently, the share price is above my cost basis so I’m not looking to add to the position until at least the share price comes back down to my cost basis. It would also help to start seeing more growth out of the company but I’m sure that’s asking too much for a cheaper share price and for the company to have large growth. As time goes on I will have to watch the stock and continue to reanalyze if I would like to add it to my portfolio.
The stock still pays a nice dividend yield of 3.5%, so I will continue to hold the position until I’m able to gather more information in the future.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in Flowers Foods? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
Recent Dividend Increases in Portfolio
Johnson & Johnson has a 5.3% Dividend Increase in 2023
The Travelers Company has a 7.5% Dividend Increase in 2023
Apple has a 4.3% Dividend Increase in 2023
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