Mondelez International (MDLZ) will raise its quarterly dividend by 10.5 percent in 2020. This follows a 9.6 percent dividend hike to $0.285 per share in 2019 and also marks the food and beverage company's 8th consecutive year of annual dividend increases.

The increases dividend is payable on October 14, 2020, to shareholders recorded as of September 30, 2020. A new annual rate of $1.26 per share yields 2.2% at a stock price of $57.54.

In a press release dated July 28, 2020 the company reports Q2 2020 results and announces the dividend hike. Mondelez states that it has returned $410 million to shareholders in cash dividends. The company suspended its share repurchase program in March, providing flexibility while managing the COVID-19 situation and response.

The increased dividend translates into a new annual dividend payment of $1.8 billion to shareholders. Mondelez International has now raised its dividend for 8 consecutive years with five of those years double digit dividend hikes. The biggest dividend hike was announced two years ago when Mondelez boosted its quarterly payment by 18.2 percent. The smallest dividend hike to date was announced in 2014 with a 7.1 percent increase.

Mondelez International, Inc. is a global snack company. The company manufactures and makes and sells primarily snacks, including biscuits (cookies, crackers and salted snacks), chocolate, gum & candy as well as various cheese & grocery and powdered beverage products. Its brands include Cadbury, Milka and Toblerone chocolate; Oreo, belVita and LU biscuits; Halls candy; Trident gum and Tang powdered beverages. The company's operations and management structure are organized into four operating segments: 1. Latin America, 2. Asia, Middle East, and Africa, 3. Europe and 4. North America. Kraft Foods Inc. changed its name to Mondelēz International, Inc. on October 1, 2012 following the spin-off of Kraft Foods Group.