General Mills raises quarterly dividend, elects new board member

General Mills Inc. raised its quarterly dividend 4.5% to 46 cents per share, the company said in a Tuesday release. Dividends are payable May 2 to shareholders of record as of April 11. Including the new May payment, General Mills dividends per share in fiscal 2016 will total $1.78, up 7% from $1.67 for the previous fiscal year. The company also announced that Maria Henry has been elected to the board of directors, effective June 1. Henry joined Kimberly-Clark Corp. in 2015 and serves as the company's chief financial officer. General Mills shares closed Tuesday up 0.6% at $59.95. The company's shares are up 23.9% for the past year, while the S&P 500 is down 4.4% for the same period.

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