By Colin Kellaher
Archer Daniels Midland's board has nudged up the quarterly dividend by 2% to 51 cents a share from 50 cents, marking the 52nd straight year that the agribusiness giant has boosted its payout.
The new payout, equal to $2.04 a year, represents an annual yield of about 4.08% based on Monday's closing price of $50.02, up from 4%.
The increase maintains ADM's spot in the S&P 500 Dividend Aristocrats Index, whose 66 members have paid a higher dividend for at least 25 straight years, as well as its place on the smaller list of dividend kings--those who have boosted their dividends annually for at least a half century. That group currently counts 54 members, according to website Sure Dividend.
The Chicago company on Tuesday said the increased dividend is payable March 11 to shareholders of record Feb. 18.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 04, 2025 07:47 ET (12:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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