MGP Ingredients (MGPI) will raise its quarterly dividend to $0.04 per share.

The increased dividend will be paid on March 24, 2017 to stockholders of record as of March 1, 2017.

"This increased quarterly dividend serves to underscore the board's confidence in MGP's ability to realize its future strategic potential, while also acting on the continuing progress we have seen in generating near term cash flow from operations," said Karen Seaberg, Chair of the Board. "The board views dividends as an important way to share the success of MGP with our stockholders. By declaring this dividend, we are recognizing the company's strong foundation and the gains MGP has made in delivering shareholder value."

MGP is a producer and supplier of premium distilled spirits and specialty wheat proteins and starches. The Company operates through two segments: distillery products and ingredient solutions.  Distilled spirits include premium bourbon and rye whiskeys, gins and vodkas. Its ingredient solutions segment consists of specialty wheat starches, specialty wheat proteins, commodity wheat starch and commodity wheat protein or vital wheat gluten.