General Mills: EPS better than expected - raises dividend

(CercleFinance.com) - As it unveiled its results, General Mills said that its Board of Directors has decided to increase its quarterly dividend by 4% to 51 cents per share, which will be paid on 2 November to shareholders registered on 9 October.


For the first three months of FY 2020-21, the agri-food group saw its adjusted EPS increase by 27% at constant exchange rates, to exactly one dollar, thus exceeding the consensus by about 10 cents.

Its adjusted operating margin improved by 210 basis points to 19.1%, with revenues up 9% to 4.4 billion dollars (+10% in organic terms), in particular thanks to higher demand for pandemic-related products.


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