Flowers Foods, Inc. (FLO) said Wednesday that its board of directors has declared a three-for-two split of the company's stock by means of a 50% stock dividend.
The company also said its board has increased the annual cash dividend by $0.035. This equates to a 5.5% increase over the previous dividend rate.
Both the stock split and the dividend are payable on June 19 to shareholders of record on June 5.
Following the split, Flowers shareholders will own three shares for every two shares they held on the record date and the quarterly dividend rate will be $0.1125 per share, or $0.45 per share on an annualized basis.
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