Kellogg Company (K) will raise its quarterly dividend by 1.8 percent to $0.58 per share in 2021. This is the first dividend hike announced by K since 2019 and marks the 17th consecutive year of dividend increases based on calendar years. The new dividend hike was previously announced in February.

The next dividend is payable on June 15, 2021, to shareowners of record at the close of business on June 1, 2021. The ex-dividend date is May 28, 2021. A new annual rate of $2.32 per share yields 3.7% at a stock price of $62.42. If we include this new dividend hike Kellogg will pay shareholders approximately $800 million in dividends annually.

Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company's principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. The company's brands include Pringles, Cheez-It, Keebler, Special K, Kellogg's Frosted Flakes, Pop-Tarts, Kellogg's Corn Flakes, Rice Krispies, Eggo, Mini-Wheats, Kashi and RXBAR. Kellogg has paid a dividend to its shareholders every year since 1925