Kellogg to raise dividend in 3Q

AP News
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Posted: Apr 29, 2011 11:04 AM
Kellogg to raise dividend in 3Q

Kellogg Co. will raise its quarterly dividend 6 percent to 43 cents in the third quarter of this year.

Until then, the cereal maker said, the dividend will remain at 40.5 cents, where it's been since August.

Dividends are payouts that companies give to shareholders to share profits. An increased dividend can be a way for a company to use cash on hand to increase its stock price.

Kellogg is hosting its annual shareholder meeting Friday. In the fourth quarter, the company's net income increased 7 percent.