Smucker Boosts Dividend 9.1% In Second Increase This Year

Date : 07/22/2011 @ 5:56PM
Source : Dow Jones News
Stock : J.M. Smucker Company (The) New (SJM)
Quote : 126.72  0.31 (0.25%) @ 7:24PM

Smucker Boosts Dividend 9.1% In Second Increase This Year

Smuckers J M (NYSE:SJM)
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  DOW JONES NEWSWIRES 
 

J.M. Smucker Co. (SJM) raised its quarterly dividend 9.1%, adding onto a 10% increase the food maker unveiled in January in an effort to disburse more cash to shareholders.

Smucker, which makes jams, jellies, Jif peanut butter and Pillsbury products, has joined a long list of companies that are raising payouts to make use of cash stockpiled during the recession.

The 4-cent increase to 48 cents a share will cost the company about $18.3 million a year.

Shares were off 8 cents at $79.92 after-hours Friday. The stock was up 29% over the past 12 months.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com




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