By Paul Ziobro
Sysco is raising its quarterly dividend by 5.9%.
The foodservice distributor on Thursday said that its board approved an increase of 3 cents in the quarterly payout to 54 cents a share from 51 cents.
The new payout, equal to $2.16 a year, represents an annual yield of about 3% based on Thursday's closing price of $72.54.
It is payable on July 25 to shareholders on record as of the close of business on July 3.
Chief Financial Officer Kenny Cheung said the increase reflects the company's commitment to maintaining a dividend payout ratio of 40% to 50% of adjusted EPS.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
April 24, 2025 16:57 ET (20:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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