Flowers Foods Increases Quarterly Dividend
30 May 2016 --- Flowers Foods (NYSE: FLO) announced that its board of directors has declared a quarterly dividend of $0.16 per share, an increase of 10.3% over the same quarter last year. This is the 55th consecutive quarterly dividend paid by the company and is payable on June 23, 2016 to shareholders of record on June 9, 2016. This action increases the annualized dividend rate to $0.64 per share from $0.58 per share at this time last year.
"This dividend increase demonstrates the confidence our board and management team have in the strength of the company's cash flow and ability to generate value for shareholders," said Allen L. Shiver, Flowers Foods' president and CEO. "We are executing our disciplined strategy to grow sales, expand margins, and evaluate strategic acquisitions. With these actions, we expect to continue delivering value to shareholders through earnings and dividend growth, and share repurchases."
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