General Mills Declares Dividend of $0.48 Per Share

Price movement

General Mills (GIS) has a market cap of $37.7 billion. It fell 1.4% to close at $62.87 per share on December 14, 2016. The stock’s weekly, monthly, and YTD (year-to-date) price movements were -0.19%, 2.7%, and 12.3%, respectively, on the same day.

GIS is now trading 1.5% above its 20-day moving average, 1.8% above its 50-day moving average, and 2.1% below its 200-day moving average.

General Mills Declares Dividend of $0.48 Per Share

Related ETF and peers

The Fidelity MSCI Consumer Staples ETF (FSTA) invests 1.9% of its holdings in General Mills. The YTD price movement of FSTA was 4.6% on December 14.

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

  • Kellogg (K): $25.6 billion
  • Hershey (HSY): $20.8 billion
  • Post Holdings (POST): $5.0 billion

General Mills’ dividend

General Mills has declared a quarterly dividend of $0.48 per share on its common stock. The dividend will be paid on February 1, 2017, to shareholders of record as of January 10, 2017.

General Mills’ performance in fiscal 1Q17

General Mills (GIS) reported fiscal 1Q17 net sales of $3.9 billion, a YoY (year-over-year) fall of 7.1% from its net sales of $4.2 billion in fiscal 1Q16. Sales of the US Retail, International, and Convenience Stores & Foodservice segments fell 7.9%, 5.8%, and 6.6%, respectively, between fiscal 1Q16 and fiscal 1Q17.

The company’s net income and EPS (earnings per share) fell to $409.0 million and $0.67, respectively, in fiscal 1Q17, as compared with $426.6 million and $0.69 in fiscal 1Q16. It reported adjusted EPS of $0.78 in fiscal 1Q17, a YoY fall of 1.3% from fiscal 1Q16. General Mills’s cash and cash equivalents and inventories rose 0.26% and 9.5%, respectively, between fiscal 4Q16 and fiscal 1Q17.

Projections

General Mills (GIS) made the following projections for fiscal 2017:

  • organic net sales growth of 0% to -2%
  • total segment operating profit growth in the range of 6%–8% on a constant currency basis
  • adjusted operating profit margin to expand by ~1.5%.
  • adjusted EPS growth in the range of 6%–8% on a constant currency basis

Next, we’ll discuss Pitney Bowes (PBI).