Snack food and chocolate brand The Hershey Company (NYSE:HSY) today announced an increase to its quarterly dividend.

The new amount, $0.485 per share, is 15.5% higher than Hershey's last quarterly payout. Annualized, this dividend adds up to $1.94 per share. In addition, Hershey is paying $0.435 per share on its Class B Common Stock.

Shareholders on record as of Aug. 23 will be eligible for the new increase, and the dividends will be payable Sept. 13. Hershey's annual yield on its dividend is 2.1% using yesterday's closing price, and this new payout is the company's 335th consecutive regular dividend on the common stock.

Hershey Image

HSY Dividend data by YCharts. Chart does not include increased dividend.

link

Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.