346th consecutive regular dividend
On May 4, Hershey (HSY) announced that its board of directors approved quarterly dividends of $0.58 on the common stock and $0.53 on the Class B common stock. The dividend was paid on June 15, 2016, to shareholders of record on May 25, 2016. This dividend marks the 346th consecutive regular dividend on the common stock and the 127th consecutive regular dividend on the class B common stock.
Returns to shareholders to date
Hershey paid $122 million in total to shareholders through dividends in 1Q16. The company also repurchased $304 million of outstanding shares. Out of the $250 million authorization approved in February 2015, the company repurchased $20 million. Out of the $500 million authorization approved in January 2016, it repurchased $284 million.
Hershey has a dividend yield of 2.1% as of July 20, 2016. The company’s management has increased dividends at a CAGR (compounded annual growth rate) of 12.5% over the last five years.
Peer dividend yield
- Mondelez’s dividend yield is 1.5%.
- Smucker’s dividend yield is 1.9%.
- Kellogg’s dividend yield is 2.3%.