Dividend Increase Announcement
On June 29th, General Mills announced a dividend increase of 6%. This will increase their dividend per month from $0.51 to $0.54. The new monthly dividend represents an annualized dividend amount of $2.16 per share as compared to the current annualized dividend amount of $2.04 per share.
General Mills Dividend Information
Annual Dividend: $2.16
Dividend Growth History: 1 year
Dividend Yield: 3.07%
Dividend Increase Effect
I am currently holding 20.43 shares of General Mills stock in the More Dividends portfolio. With this 6% increase it will add an additional $2.45 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings my projected annual dividend income to a grand total of $1,814.10
Current Stock Position
I can admit that I have a love hate relationship with General Mills. Not very long after I started my position in General Mills the company decided to freeze their dividend. I understood why because they had recent made a large acquisition in the form of Blue Buffalo.
Just because I understood it, that did not mean that I liked it. Trust me. I DID NOT LIKE IT. It was very early in my investing career and it was definitely a hard bump to take.
Regardless, I thought that the company was solid and that it would just take a few years of holding before the benefits would start coming in. Well that time is now. It is great seeing the company increase their dividend.
General Mills is still one of the biggest companies in our grocery stores so I see no reason to sell the stock anytime soon. I will continue to reinvest those dividends while growing my position in the company.
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
Recent Dividend Increases in Portfolio
Apple Increases Their Dividend by 5% in 2022
Realty Income Increases Their Dividend by 0.2% in 2022 AGAIN!!!
Bank of America Increases Their Dividend by 5% in 2022
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