Sysco Raises Dividend

In our last CWS Market Review, I said that I expected Sysco ($SYY) would soon raised its quarterly dividend by a penny per share:

Here’s the important part: Sysco has raised its quarterly dividend for the last 41 years in a row, and I expect to see #42 very soon. However, the increase will probably be very modest. My guess is that the board will bump up the quarterly dividend from 26 cents to 27 cents per share. That would give the shares a yield of close to 4%. In this environment, that’s not bad. Sysco is a good buy up to $30 per share.

Sure enough, I got it right. Sysco just announced that it’s raising its dividend by a penny to 27 cents per share. Going by yesterday’s close and the new dividend, the current yield comes to 3.92%.

Posted by on November 16th, 2011 at 9:51 am


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