Dividend.com: Flowers' Payout Blooms

Flowers Foods Raises Dividend by 17%

Bakery products maker Flowers Foods(FLO Quote) said Friday that it is increasing its quarterly dividend payout by 17%. The Thomasville, Ga., company announced a new dividend payout of 17.5 cents per quarter or 70 cents annually.

This hike represents a 17% increase over the previous quarterly payout of 15 cents per share and the sixth consecutive year the company has increased its dividend. The dividend will be payable July 2 to shareholders of record as of June 19. Flowers Foods shares rose 30 cents or 1.4% in morning trading Friday.

We had removed shares of Flowers from our "recommended" list back on Aug. 14 when the stock traded at $31.97. The company will now have a dividend yield of 3.37% based on the higher dividend payout and last night's closing stock price of $20.80. The stock is nearing technical support at the 52-week lows of $20. ...