General Mills has a 9.3% Dividend Increase in 2023


Dividend Increase Announcement

On June 28th, General Mills announced a dividend increase of 9.3%. This will increase their dividend from $0.54 to $0.59. It is payable on August 1st for shareholders of record on July 10th. The new dividend represents an annualized dividend amount of $2.36 per share as compared to the previous annualized dividend amount of $2.16 per share.

General Mills Dividend Information

Annual Dividend: $2.36
Dividend Growth History: 1 year
Dividend Yield: 2.92%

Dividend Increase Effect

I am currently holding 20.982 shares of General Mills stock in the More Dividends portfolio. With this 9.3% increase it will add an additional $4.20 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 $2,664.55

To Learn More About Dividend Investing Check Out This Book Called DIVIDEND INVESTING FOR BEGINNERS.

Current Stock Position

I have been holding this position for several years now. Despite several years with very little growth the company has started to turn that momentum around.

When I started this position part of my thinking was that the company was trying to turn around their business. They had recently acquired Blue Buffalo which was an organic pet food company. It was a very large acquisition but I thought that it would improve the company over the long term.

The company took on a lot of debt to create this acquisition but I did not foresee what was just around the corner. A short time after making the acquisition General Mills decided to freeze their dividend. For anyone who doesn’t know, when a company freezes a dividend it just means that they are not cutting or increasing the dividend for a period of time.

A lot of other investors took this very badly and decided to sell their positions in the company. Even though I wasn’t a fan of freezing the dividend I decided to hold my position for the long term. Now after several years the company has decided to start increasing their dividend again.

So for the time being, I will continue to hold my position and let the dividend compound. I will be keeping a watchful eye to see if the share price drops below my cost basis. Until that opportunity arises I will be sitting on the sidelines.

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 General Mills? 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

jason from more dividends


Recent Dividend Increases in Portfolio

Apple has a 4.3% Dividend Increase in 2023
Flowers Foods has a 4.5% Dividend Increase in 2023
Dividend Increases in 2023: UNH, O and TGT


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