B&G Foods (NYSE:BGS), the name behind well-known brands including Mrs. Dash and Cream of Wheat, is increasing its quarterly dividend. The company this week said it has raised the payout 10.3%, from $0.29 to $0.32 per share of common stock.
This is the 36th consecutive quarterly dividend declared by the Board of Directors since B&G Foods’ initial public offering in October 2004.
Annually, its new payout adds up to $1.28, and offers a 3.7% dividend yield based on yesterday's closing price. The food manufacturer's new dividend will be payable Oct. 30 for shareholders of record as of Sept. 30. B&G previously raised its dividend payout in December 2012 by 7.4%, from $0.27 per share to $0.29. Since the start of 2013, the company's price per share has moved from $28.31 to $33.78, a 19% elevation.