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J.M. Smucker (SJM) Boosts Dividend for 22nd Consecutive Year
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The J.M. Smucker Company (SJM - Free Report) has recently announced a dividend increase, showcasing the company's commitment to delivering value to its shareholders. The board of directors approved a four-percent increase in the quarterly dividend, raising it from $1.02 to $1.06 per share. This move marks the 22nd consecutive year of dividend growth for the renowned food and beverage company.
Shareholders can expect to receive the enhanced dividend on Sep 1, 2023. To qualify for the dividend, individuals must be recorded as shareholders at the close of the business on Aug 18, 2023. This move reflects the company's strong financial performance and ability to generate sustainable cash flows.
With a portfolio of iconic brands like Smucker's, Jif and Folgers, J.M. Smucker has established itself as a trusted household name. The dividend increase further solidifies the company's investment appeal. It demonstrates management's confidence in the company's growth prospects and dedication to creating long-term shareholder value. The commitment to dividend growth also showcases J.M. Smucker's ability to navigate changing market dynamics.
Image Source: Zacks Investment Research
The dividend increase not only provides tangible benefits to existing shareholders but also positions J.M. Smucker as an attractive investment opportunity for those seeking stable and consistent returns.
J.M. Smucker’s cash from operations totaled $437.4 million, while free cash flow was $298.7 million at the end of the fourth quarter of fiscal 2023. The company returned $467.9 million and $797.7 million via dividends and share buybacks in the fourth quarter and fiscal 2023, respectively. Management expects to generate free cash flow of approximately $650 million in fiscal 2024.
Wrapping Up
J.M. Smucker is strategically positioning itself for growth and value creation through a range of initiatives. The recent announcement of a dividend increase exemplifies the company's commitment to rewarding shareholders.
Furthermore, J.M. Smucker is actively engaged in portfolio optimization and cost-containment measures to enhance operational efficiency and maximize profitability. By reallocating resources to promising growth opportunities within the pet, coffee, and snacking categories, the company aims to capitalize on emerging market trends and consumer preferences.
With a focus on dividend growth, cost management and brand strength, J.M. Smucker is poised to deliver long-term value to its shareholders. Shares of this Zacks Rank #3 (Hold) company have rallied 13.4% in the past year compared with the industry’s growth of 5.9%.
Bet Your Bucks on These 3 Hot Stocks
Here we have highlighted three better-ranked stocks, namely Lamb Weston Holdings (LW - Free Report) , Celsius Holdings (CELH - Free Report) and Walmart (WMT - Free Report) .
Lamb Weston, a leading supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers worldwide, currently carries a Zacks Rank #2 (Buy). LW has a trailing four-quarter earnings surprise of 47.6%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Lamb Weston’s current financial-year sales and earnings suggests growth of 29.6% and 117.3%, respectively, from the year-ago reported numbers. The expected EPS growth rate for three to five years is 42.7%.
Celsius Holdings, which offers functional drinks and liquid supplements, currently carries a Zacks Rank #2. CELH delivered an earnings surprise of 81.8% in the last reported quarter.
The Zacks Consensus Estimate for Celsius Holdings’ current fiscal-year sales and earnings suggests growth of 69.6% and 154.4%, respectively, from the year-ago reported numbers.
Walmart, which operates a chain of hypermarkets, discount department stores and grocery stores, currently carries a Zacks Rank #2. The expected EPS growth rate for three to five years is 5.5%.
The Zacks Consensus Estimate for Walmart’s current financial-year sales suggests growth of 4.2% from the year-ago period. WMT has a trailing four-quarter earnings surprise of 12%, on average.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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J.M. Smucker (SJM) Boosts Dividend for 22nd Consecutive Year
The J.M. Smucker Company (SJM - Free Report) has recently announced a dividend increase, showcasing the company's commitment to delivering value to its shareholders. The board of directors approved a four-percent increase in the quarterly dividend, raising it from $1.02 to $1.06 per share. This move marks the 22nd consecutive year of dividend growth for the renowned food and beverage company.
Shareholders can expect to receive the enhanced dividend on Sep 1, 2023. To qualify for the dividend, individuals must be recorded as shareholders at the close of the business on Aug 18, 2023. This move reflects the company's strong financial performance and ability to generate sustainable cash flows.
With a portfolio of iconic brands like Smucker's, Jif and Folgers, J.M. Smucker has established itself as a trusted household name. The dividend increase further solidifies the company's investment appeal. It demonstrates management's confidence in the company's growth prospects and dedication to creating long-term shareholder value. The commitment to dividend growth also showcases J.M. Smucker's ability to navigate changing market dynamics.
Image Source: Zacks Investment Research
The dividend increase not only provides tangible benefits to existing shareholders but also positions J.M. Smucker as an attractive investment opportunity for those seeking stable and consistent returns.
J.M. Smucker’s cash from operations totaled $437.4 million, while free cash flow was $298.7 million at the end of the fourth quarter of fiscal 2023. The company returned $467.9 million and $797.7 million via dividends and share buybacks in the fourth quarter and fiscal 2023, respectively. Management expects to generate free cash flow of approximately $650 million in fiscal 2024.
Wrapping Up
J.M. Smucker is strategically positioning itself for growth and value creation through a range of initiatives. The recent announcement of a dividend increase exemplifies the company's commitment to rewarding shareholders.
Furthermore, J.M. Smucker is actively engaged in portfolio optimization and cost-containment measures to enhance operational efficiency and maximize profitability. By reallocating resources to promising growth opportunities within the pet, coffee, and snacking categories, the company aims to capitalize on emerging market trends and consumer preferences.
With a focus on dividend growth, cost management and brand strength, J.M. Smucker is poised to deliver long-term value to its shareholders. Shares of this Zacks Rank #3 (Hold) company have rallied 13.4% in the past year compared with the industry’s growth of 5.9%.
Bet Your Bucks on These 3 Hot Stocks
Here we have highlighted three better-ranked stocks, namely Lamb Weston Holdings (LW - Free Report) , Celsius Holdings (CELH - Free Report) and Walmart (WMT - Free Report) .
Lamb Weston, a leading supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers worldwide, currently carries a Zacks Rank #2 (Buy). LW has a trailing four-quarter earnings surprise of 47.6%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Lamb Weston’s current financial-year sales and earnings suggests growth of 29.6% and 117.3%, respectively, from the year-ago reported numbers. The expected EPS growth rate for three to five years is 42.7%.
Celsius Holdings, which offers functional drinks and liquid supplements, currently carries a Zacks Rank #2. CELH delivered an earnings surprise of 81.8% in the last reported quarter.
The Zacks Consensus Estimate for Celsius Holdings’ current fiscal-year sales and earnings suggests growth of 69.6% and 154.4%, respectively, from the year-ago reported numbers.
Walmart, which operates a chain of hypermarkets, discount department stores and grocery stores, currently carries a Zacks Rank #2. The expected EPS growth rate for three to five years is 5.5%.
The Zacks Consensus Estimate for Walmart’s current financial-year sales suggests growth of 4.2% from the year-ago period. WMT has a trailing four-quarter earnings surprise of 12%, on average.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.