Following yesterday's release of Q2 results that showed robust growth in profitability, Archer Daniels Midland (NYSE: ADM ) has announced an increase in its quarterly dividend. The company is to pay $0.19 per share of its common stock, a nearly 9% rise over the former level. The disbursement will be made on March 13 to shareholders of record as of Feb. 20.
ADM is a serial dividend payer. In the news release announcing the latest payment, the company pointed out that it has now paid 325 consecutive quarterly dividends over a stretch of 81 years.
At an annualized rate of $0.76 per share, the new dividend yields 2.5%.