Flowers raises quarterly dividend 14.3%
June 4, 2010
by Eric Schroeder
THOMASVILLE, GA. — The board of directors of Flowers Foods, Inc. has authorized a 14.3% hike in the company’s quarterly dividend, to 20c per share from 17.5c. The dividend is payable on July 2 to shareholders of record as of June 18.
“The board believes 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,” said George E. Deese, chairman and chief executive officer of Flowers Foods. “Our business continues to generate substantial cash flow that funds dividends to our shareholders, capital improvements, debt reduction and share repurchases as well as growth through market expansion and strategic acquisitions. Our balance sheet is strong and our operating strengths are evident. We anticipate delivering good results in 2010 and in the years ahead.”