Flowers Foods, Inc. (NYSE:FLO) Plans $0.24 Quarterly Dividend

Flowers Foods, Inc. (NYSE:FLO) announced a quarterly dividend on Friday, November 15th,RTT News reports. Investors of record on Friday, November 29th will be paid a dividend of 0.24 per share on Friday, December 13th. This represents a $0.96 annualized dividend and a dividend yield of 4.43%.

Flowers Foods has raised its dividend payment by an average of 4.8% per year over the last three years and has raised its dividend every year for the last 23 years. Flowers Foods has a dividend payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flowers Foods to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 73.3%.

Flowers Foods Stock Performance

FLO traded down $0.18 during mid-day trading on Friday, reaching $21.65. 103,550 shares of the company traded hands, compared to its average volume of 1,171,317. The stock has a market capitalization of $4.56 billion, a P/E ratio of 19.15, a P/E/G ratio of 4.12 and a beta of 0.36. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 0.75. The company’s fifty day moving average price is $22.71 and its 200-day moving average price is $22.93. Flowers Foods has a 52-week low of $20.50 and a 52-week high of $26.12.

Flowers Foods (NYSE:FLO) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.20 billion. Flowers Foods had a return on equity of 19.41% and a net margin of 4.70%. Flowers Foods’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. On average, sell-side analysts expect that Flowers Foods will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Flowers Foods from a “buy” rating to a “strong-buy” rating in a research report on Monday.

About Flowers Foods

Flowers Foods, Inc produces and markets packaged bakery food products in the United States. Its principal products include fresh breads, buns, rolls, snack items, bagels, English muffins, and tortillas, as well as frozen breads and rolls under the Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Mrs.