Tuesday, March 12, 2013
Dividend Increase: GIS
General Mills (GIS) is increasing its quarterly dividend by 15.2%, from $0.33 to $0.38 per share, putting the company on track for its 10th consecutive year of dividend growth (press release). The increase is effective with the August dividend payment and was announced sooner than I expected. Given that I own 70 shares of GIS, my quarterly dividend increases from $23.10 to $26.60, which will add an extra $14.00 to my annual dividend income. This dividend increase boosts my yield on cost to 3.87%. Thus far this year, there have been dividend increases for 14 of the 28 dividend growth stocks in my portfolio.