Flowers Foods (FLO) will raise its quarterly dividend to $0.17 per share. The dividend is payable on June 23, 2017 to shareholders of record on June 9, 2017.

"Our board and management team believe Flowers' strong cash generation supports increasing the dividend and enhancing shareholder return, even as we position our company for continued value creation," said Allen L. Shiver, Flowers Foods' President and CEO. "We continue to execute on Project Centennial to transform Flowers Foods into a more powerful branded food company, while generating substantial cash flow that strengthens our financial position and funds strategic growth initiatives, capital improvements, dividends, and share repurchases."

Flowers Foods, Inc. is a producer and marketer of packaged bakery products. The Company operates in two segments: direct-store-delivery segment and warehouse delivery segment. Among the company's top brands are Nature's Own, Wonder, Tastykake, and Dave's Killer Bread. Flowers Foods has paid a dividend to shareholders every year since 2002.