MGP Ingredients, Inc. (MGPI) will raise its quarterly dividend by 25.0 percent to $0.10 per share in 2019. This will mark the 5th consecutive year of dividend increases by the supplier of premium distilled spirits and specialty wheat proteins and starches. 

The next dividend is payable on March 29, 2019 to shareholders of record as of March 13, 2019. A new annualized rate of 40 cents per share yields 0.5% at a stock price of $80.

“We are very pleased that our ongoing financial strength allows us to reward shareholders with these initiatives while still having ample funds available to invest to grow our business,” said Karen Seaberg, chairman of the board of MGP Ingredients. “Today’s announcement reflects our continued confidence in the long-term strategy, the health of our balance sheet, and our ability to generate strong cash flows.”

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.