CAMDEN, N.J. — The board of directors of Campbell Soup Co. on Nov. 18 approved a 5% increase in the company’s quarterly dividend to 29c per share from 27.5c per share, effective in the second quarter of fiscal 2011. The dividend is payable on Jan. 31, 2011, to shareholders of record at the close of business on Dec. 27, 2010.

This marks the seventh consecutive year Campbell has increased its dividend. The company has paid dividends since it became public in 1954.