At the time of my writing this blog post, the third quarter of 2020 is fast approaching its end, which leaves us with only one quarter to work toward crushing our goals for this year. The speed with which this year is passing us by never ceases to amaze me!
With that aside, I'll be discussing the dividend increases that I received during the month of September (spoiler: I was fortunate enough not to endure any dividend cuts during the month of September), and I'll be looking ahead to expected dividend increases for the month of October.
After not having raised its dividend since June 2017 following its $8 billion acquisition of Blue Buffalo, General Mills (GIS) recently reported 9% YoY growth in its revenue and $1.00/share in adjusted earnings versus $0.87/share analyst expectations for its first quarter, which prompted the company to announce a 4.1% increase to its quarterly dividend from $0.49/share to $0.51/share.
I had gotten so used to GIS not raising its dividend, that I had failed to consider that the company would eventually be increasing its dividend, so I was pleasantly surprised by the news last week.
Across my 4 shares of the stock, my annual forward dividends were boosted by $0.32.