General Mills, Inc. (NYSE:GIS) to Issue Quarterly Dividend of $0.61

General Mills, Inc. (NYSE:GIS) declared a quarterly dividend on Wednesday, July 1st. Investors of record on Friday, July 10th will be given a dividend of 0.61 per share on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, July 10th.

General Mills has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. General Mills has a payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect General Mills to earn $3.16 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 77.2%.

General Mills Stock Performance

GIS stock traded up $2.81 during midday trading on Wednesday, reaching $37.61. 27,192,857 shares of the company were exchanged, compared to its average volume of 9,512,090. The business has a 50-day moving average price of $34.13 and a two-hundred day moving average price of $39.94. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 9.20 and a beta of -0.03. General Mills has a one year low of $31.75 and a one year high of $54.18.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.13. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts forecast that General Mills will post 3.42 EPS for the current year.

About General Mills

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.