MINNEAPOLIS--(BUSINESS WIRE)--The General Mills Board of Directors today declared an increase in the quarterly dividend rate to $0.305 per share, payable August 1, 2011, to shareholders of record July 11, 2011. The new annualized rate of $1.22 per share represents a 9 percent increase over dividends of $1.12 per share paid in fiscal 2011.
“Strong and growing cash dividends are an important component of General Mills’ total return to our shareholders,” said Chairman and Chief Executive Officer Ken Powell. “The dividend increase announced today is a reflection of General Mills’ robust financial condition and excellent future growth prospects.” General Mills (NYSE: GIS) and its predecessor firm have paid shareholder dividends without interruption or reduction for 112 years.
