11-21-2014, 11:18 AM
This was a pleasant surprise for me! 10.4% dividend boost and a share buyback of up to 7.1% of outstanding shares.
THOMASVILLE, Ga., Nov. 21, 2014 /PRNewswire/ -- The board of directors of Flowers Foods (FLO) today announced a $0.05 increase in the annual dividend rate, which raises the rate from $0.48 to $0.53 per share, a 10.4% increase. The dividend is paid quarterly at the new rate of $0.1325 per share and the next payment is on December 19, 2014 to shareholders of record on December 5, 2014.
In other actions, the board increased the company's share repurchase authorization by 7.1 million shares. At the close of the company's third quarter on October 4, 2014, 7.9 million shares remained under the existing authorization. With the board's action today, the current authorization increases to 15.0 million shares, affording ample repurchase capacity as the company continues to execute its growth plan and maintain balance sheet discipline.
THOMASVILLE, Ga., Nov. 21, 2014 /PRNewswire/ -- The board of directors of Flowers Foods (FLO) today announced a $0.05 increase in the annual dividend rate, which raises the rate from $0.48 to $0.53 per share, a 10.4% increase. The dividend is paid quarterly at the new rate of $0.1325 per share and the next payment is on December 19, 2014 to shareholders of record on December 5, 2014.
In other actions, the board increased the company's share repurchase authorization by 7.1 million shares. At the close of the company's third quarter on October 4, 2014, 7.9 million shares remained under the existing authorization. With the board's action today, the current authorization increases to 15.0 million shares, affording ample repurchase capacity as the company continues to execute its growth plan and maintain balance sheet discipline.