Dividend Increase Announcement
On September 23rd, General Mills announced a dividend increase of 4.1%. This will increase their dividend per quarter from $0.49 to $0.51. It is payable on November 2nd for shareholders of record on October 9th. The new quarterly dividend represents an annualized dividend amount of $2.04 per share as compared to the current annualized dividend amount of $1.96 per share.
General Mills Dividend Information
Annual Dividend: $2.04
Dividend Yield: 3.52%
Dividend Growth History: 1 year
Payout Ratio: 53.99%
Dividend Increase Effect On More Dividends
I am currently holding 19.3 shares of General Mills in the More Dividends portfolio. With this 4.1% increase it will add an additional $1.54 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
General Mills has been in my portfolio for several years now. Most of that time the dividend was frozen. If you remember shortly after the company purchased Blue Buffalo they froze the dividend.
Since the dividend has been frozen the share price has remained below my cost basis. Unfortunately though since the company had frozen the dividend I refused to add to the position.
I knew that in due time as the company improved its leverage situation that they would begin to increase the dividend again. Now the patience is starting to pay off.
Despite not getting any dividend increases for a couple of years, I believe that the company is emerging stronger and better situated with the growing trends in the consumer goods sector.
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 MoreDividends.com
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