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Cereal lovers rejoice!
General Mills(GIS - Get Report) tops off our list of dividend winners this week. General Mills is best known for cereal brands like Cheerios and Lucky Charms, but the firm's food portfolio also includes diversified brands such as Pillsbury, Betty Crocker and Haagen-Dazs. Currently, General Mills pays a 3.31% dividend yield.
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General Mills' portfolio isn't just diverse, it's also powerful. The firm's Cheerios brand is the No. 1 cereal brand in the world, with more than 12% of the market. That brand power points to customer stickiness. While consumers are willing to trade down some household products when times get tough, food is one of the last things consumers are willing to switch to store brands.
Only around 25% of General Mills' revenues have come from overseas in recent years, leaving a large spot for growth. The firm's international distribution deal with
Nestle (NSRGY) should help to accelerate the top line quickly.
Financially, General Mills is in strong shape, with more than $1.5 billion in liquidity on its balance sheet, and a more than tenable debt load. That should pave the way for GIS to keep upping its annual dividend payouts.
The firm's next quarterly dividend hits investors' accounts on Nov. 1.