A Tasty Dividend Increase
Sysco (NYSE: SYY
), the largest distributor of food and food products to restaurants in the U.S. and Canada, said it will raise its quarterly dividend to 25 cents a share from 24 cents, good for a 4% increase. This is the 39th
consecutive year that Sysco has raised its dividend, proving our mantra correct that it is indeed rewarding to study a company's dividend history. Sysco shares are currently yielding 3.6%.
Sysco is a member of the Dividend Aristocrats Index and has five-year dividend growth rate of 12.6%. The stock trades for just 14 times forward earnings.
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