Published Wed, 13 Jun 2018 06:24:38 -0400 on Seeking Alpha
B&G Foods (BGS) has finally announced a $0.01 increase in the quarterly dividend to $0.475 from $0.465. The previous payout had been flat for the previous six quarters, so one could easily think "It's about time!" On the other hand, it's not as though the company previously hadn't gone six quarters without an increase. From March of 2014 through May of 2015, the company also went six quarters without an increase. During the five quarters between those two six-quarter periods, the company increased the dividend twice, and it was by a rather substantial total percentage - a quarterly total of $0.08, or 23.5%.
Unfortunately, the history of the company's dividend increases (and its one cut) are very, very erratic. I have written about this before, but for those less familiar, this is what it's been like to own this stock:
The annual dividend rate started at $0.85 when the company went public in late 2004. It was forced to cut the dividend to $0.68 in late 2008 as the Great Recession and a sharp increase in wheat prices cut into margins. It remained at $0.68, or $0.17 per quarter, for the next nine quarters. The quarterly rate was then increased to $0.21 for three quarters, went to $0.23 for the next quarter (bringing the annual rate back to the initial payout rate), then jumped to $0.27 for three quarters, $0.29 for another three quarters, then consecutive quarterly increases to $0.32, $0.33 and $0.34. It remained at $0.34 for a year and a... Read more
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