Archer Daniels Midland (ADM) announced a 7.14% increase in its cash dividend. The quarterly cash dividend will increase from $0.28 to $0.30 per share and payable on Mar 8, 2016 to shareholders on record as of Feb 16, 2016.
Archer Daniels Midland is a dividend champion and this is the 41st consecutive annual dividend increase. The annual dividend rate goes up from $1.12 to $1.20. Yield going forward based on today’s closing price is 3.71%.
From the press release statement:
Juan Luciano, ADM chairman and CEO said “In 2016, our balanced capital allocation framework remains a priority, including a quarterly dividend rate increase of 7 percent to $0.30 per share, and share repurchases of between $1.0 billion and $1.5 billion, subject to strategic capital requirements. With a strong balance sheet, we will also remain opportunistic for investments, especially bolt-ons, in this more challenged macro environment.”
Our portfolio consists of 80 shares of Archer Daniels Midland, which increases our annual dividend from $89.60 to $96.00, an increase of $6.40.