Sysco increases dividend for 46th consecutive year

Sysco Corp (SYY) will hike its dividend by 6.5%.

Dividend Aristocrat Sysco will raise its quarterly dividend to $0.33 per share, marking 46 consecutive years of dividend increases.

The new dividend is payable on January 27, 2017, to common stockholders of record at the close of business on January 6, 2017.

“The two cent per share quarterly dividend step up from the one cent increase in recent years reflects Sysco’s continued strong generation of cash flow and demonstrates our long-standing commitment to return value to its stockholders,” said Bill DeLaney, Sysco’s chief executive officer. “Sysco has paid a quarterly cash dividend every quarter since its founding as a public company in 1970 and has increased its dividend 48 times in that period.”

Last year food products distributor Sysco hiked its dividend by 3.3%.

At the current stock price of $53.14 Sysco has a 2.5% dividend yield.

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