Sysco Corp. (SYY) announced the company is increasing its fiscal 3rd quarter 2010 dividend by 4.17% to 25 cents per share. This compares to 24 cents per share paid in the same quarter last year. The company has increased its dividend in each of the 40 years it has been trading as a public company.
- The estimated payout ratio will equal 48% based on 6/2010 estimated earnings of $1.89. This compares to the 5-year average payout ratio of approximately 53%.
- The company carries an S&P Earnings & Dividend Quality Ranking of A+.
(Disclosure: Long SYY)