Today Sysco Corp (SYY) announced a 15.5% increase in its quarterly dividend. The new dividend of 22 cents per quarter compares to 19 cents per quarter in the same period last year. As detailed in the company's dividend announcement, Sysco has increased its dividend every year since 1970. It should be noted the projected payout ratio will be 49% based on June 2008 estimated earnings of $1.79. The five year average payout is approximately 40%. The ratio has trended higher in each of the last five years.
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