THOMASVILLE, GA. — The board of directors of Flowers Foods, Inc. has declared a quarterly dividend of 19c per share, an increase of 5.6% from 18c during the same quarter a year ago. The dividend is payable on June 21 to shareholders of record as of June 7. The action increases the annualized dividend rate to 76c per share from 72c per share at this time last year.
“The board and management team believe Flowers Foods is well positioned to grow profitably with its leading bakery brands,” said George E. Deese, chairman of the board. “Our company’s strong cash flow is a powerful advantage and supports both strategic investments and a growing dividend. The board is confident the company’s strategic priorities to profitably grow brands, aggressively manage costs, invest in product adjacencies and develop a team with leading capabilities can deliver attractive shareholder returns over the long term.”
Flowers’ stock price closed at $23 on May 22, up 18% from its close of $19.49 on May 22, 2018.