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General Mills Declared Quarterly Dividend of $0.46 Per Share

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Price movement of General Mills

General Mills (GIS) has a market cap of $35.6 billion. GIS rose by 0.55% to close at $59.95 per share as of March 8, 2016. The price movement on a weekly, monthly, and year-to-date (or YTD) basis is 0.98%, 8.3%, and 4.8%, respectively.

Currently, GIS is trading 2.8% above its 20-day moving average, 5.3% above its 50-day moving average, and 6.3% above its 200-day moving average.

The iShares Russell 1000 Growth ETF (IWF) invests 0.32% of its holdings in General Mills. The ETF tracks an index of US large-cap and midcap stocks selected from the Russell 1000 Index with the highest growth characteristics, based on Russell’s style methodology. The YTD price movement of IWF was -3.0% as of March 7, 2016.

The market cap of General Mills’ competitors are as follows:

  • Kellogg Company (K) — $26.2 billion
  • Hershey (HSY) — $14.4 billion
  • Post Holdings (POST) — $4.5 billion
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General Mills declared dividend

General Mills has declared a quarterly dividend of $0.46 per share on its common stock. The dividend will be paid on May 2, 2016, to shareholders of record as of the close of business on April 11, 2016. This represents a rise of 4.5% in quarterly dividends.

The company has elected Maria G. Henry to its board of directors, effective June 1, 2016.

Performance of General Mills in fiscal 2Q16

General Mills reported fiscal 2Q16 net sales of $4,424.9 million, a fall of 6.1% compared to net sales of $4,712.2 million in fiscal 2Q15. Sales of US Retail, International, and Convenience Stores and Foodservice segments fell by 3.5%, 12.4%, and 4.5%, respectively, in fiscal 2Q16 compared to fiscal 2Q15.

Its net income and EPS (earnings per share) rose to $529.5 million and $0.87, respectively, in fiscal 2Q16, compared to $346.1 million and $0.56, respectively, in fiscal 2Q15.

Meanwhile, its cash and cash equivalents and inventories fell by 27.4% and 23.2%, respectively, in fiscal 2Q16 compared to fiscal 2Q15. Its debt-to-equity ratio rose to 3.0x in fiscal 2Q16 compared to 2.8x in fiscal 2Q15.

The price-to-earnings and price-to-book value ratios of General Mills were 24.8x and 7.5x, respectively, as of March 8, 2016.

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