Flowers Foods (FLO) will raise its quarterly dividend by 5.6 percent to $0.19 per share in 2019. Last year the packaged bakery products producer raised its quarterly payment by one cent to 18 cents per share.

The next dividend is payable on June 21, 2019 to shareholders of record on June 7, 2019. A new annual rate of 76 cents yields 3.3% at a stock price of $22.97.

"The board and management team believe Flowers Foods is well positioned to grow profitably with its leading bakery brands," said George E. Deese, chairman of the board. "Our company's strong cash flow is a powerful advantage and supports both strategic investments and a growing dividend. The board is confident the company's strategic priorities to profitably grow brands, aggressively manage costs, invest in product adjacencies, and develop a team with leading capabilities can deliver attractive shareholder returns over the long-term."

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.