B&G Foods, Inc. (NYSE: BGS) announced today that its Board of Directors has increased the Company’s quarterly cash dividend rate by 10.3% from $0.29 per share of common stock to $0.32 per share of common stock. On an annualized basis, the dividend increases from $1.16 per share to $1.28 per share. The quarterly dividend declared today is payable on October 30, 2013, to shareholders of record as of September 30, 2013.
At the closing market price of the common stock on July 25, 2013, the new dividend rate represents an annualized yield of 3.7%. This is the 36 th consecutive quarterly dividend declared by the Board of Directors since B&G Foods’ initial public offering in October 2004.
“Today our Board of Directors expressed its continuing confidence in our base business, strong cash flows and our recent acquisitions by increasing our dividend by 10.3%,” stated David L. Wenner, President and Chief Executive Officer of B&G Foods. “Dividend growth remains a key component of B&G Foods’ total shareholder return.”
About B&G Foods, Inc.B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Brer Rabbit, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emeril’s, Grandma’s Molasses, JJ Flats, Joan of Arc, Las Palmas, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Sugar Twin, Trappey’s, TrueNorth, Underwood, Vermont Maid and Wright’s. B&G Foods also sells and distributes two branded household products, Static Guard and Kleen Guard.