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

Flowers Foods, Inc. (NYSE:FLO) declared a quarterly dividend on Friday, November 15th,RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.24 per share on Friday, December 13th. This represents a $0.96 annualized dividend and a yield of 4.22%. The ex-dividend date is Friday, November 29th.

Flowers Foods has increased its dividend payment by an average of 4.8% annually over the last three years and has raised its dividend annually for the last 23 consecutive years. Flowers Foods has a dividend payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Flowers Foods stock opened at $22.73 on Thursday. Flowers Foods has a 12-month low of $20.50 and a 12-month high of $26.12. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $22.48 and a 200-day moving average price of $22.73. The firm has a market capitalization of $4.79 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.33 and a beta of 0.36.

Flowers Foods (NYSE:FLO) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.20 billion. Flowers Foods had a net margin of 4.70% and a return on equity of 19.41%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. As a group, equities research analysts forecast that Flowers Foods will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Flowers Foods from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th.

Flowers Foods Company Profile

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.