Kellog Plans To Hike Dividend Rate By 4%

Loading...
Loading...

Kellogg Company K revealed its Board declared a dividend of $0.50 per share on its common stock of the Company. The company indicated that the dividend would be payable on June 15 to the eligible shareowners. For the purpose of determining the eligible shareholders to get the dividend, the company has fixed a record date of June 1. As a result, the stock will turn into the ex-dividend on May 27.

Kellog said this was the 366th dividend the company has paid to its shareholders of common stock since 1925. However, the company has been increasing its dividend rate continuously in the last eleven years only. Aside from that the Company's Board disclosed that it intends to boost the quarterly dividend by four percent to $0.52 per share commencing from the third quarter of 2016.

The current dividend rate provided a yield of 2.6 percent while the dividend payout ratio was 116 percent. In the last five-year period, its average dividend payout ratio was 84 percent. As a result, the annual growth rate in the dividend in the last five-year period was only 4.6 percent while it was 4.38 percent for the three-year period.

Ex-Date
ticker
name
Dividend
Yield
Announced
Record
Payable
Posted In: NewsDividends
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...