Wednesday, June 2, 2021

Dividend Increase #50 of 2021 - Flowers Foods, Inc. (FLO)

Thursday, May 27th the Board of Directors of Flowers Foods, Inc. (FLO) announced a quarterly dividend increase of from $ 0.20 to $ 0.21 per share that’s payable June 24, 2021 to holders of record June 10, 2021. This represents a 5% increase over the last quarterly dividend.


"The board is confident that the company's leading brands will drive growth in-line with our long-term financial targets," said Ryals McMullian, Flowers Foods president and CEO. "That expected growth and our strong cash flow enables the company to invest strategically and enhance our business while also continuing our long history of rewarding shareholders with a growing dividend."


With current price $ 24.55 (yesterday's close), this raise brings their dividend yield to 3.42%.


Flowers Foods is a Dividend Contenders with a 20 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.3, 5.6, 6.8 and 8.7 (Dividend Champions.xls)



Since I own 185 shares of FLO, this will increase my portfolio's projected annual net dividend income by $ 5.51.


This increase was in line with my expectations.


This is the fifth dividend increase I've received from Flowers Foods, Inc. since initiating a position in August 2016. (More here) During this period, the quarterly dividend has risen moderately from $ 0.16 to $ 0.21, or 31.3 percent.


This increase raises my YOC to 5.49%.



Summary of 2021 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long FLO


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