The board of directors for Flowers Foods announced a three-for-two stock split at the annual shareholders meeting this week and increased the total annual cash dividend by $0.035.
On June 19, the split and dividend will be payable to all investors recorded by June 5. Flowers investors will own three shares for every two they held prior to June 5 and the quarterly dividend will be $0.1125 per share, or $0.45 annually.
"Flowers Foods is in an excellent position to reward our shareholders with an increased dividend, allowing our investors to continue participating in the company's success over the long term," said George E. Deese, executive chairman of Flowers' board of directors, in a statement. "In addition, the stock split will increase the liquidity of our stock and attract new shareholders."
The article Flowers Foods Increases Dividend Rate, Splits Stock originally appeared on Fool.com.Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool recommends Flowers Foods. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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