Dividend Achievers List: Top 15

10. Flowers Foods, Inc. (NYSE:FLO)

Dividend Yield as of September 22: 4.10%

Flowers Foods, Inc. (NYSE:FLO) ranks tenth on our dividend achievers list. The Georgia-based company specializes in producing and marketing bakery products. On August 22, the company announced a quarterly dividend of $0.24 per share, which fell in line with its previous dividend. Overall, it holds a 22-year track record of dividend growth. The stock’s dividend yield on September 22 came in at 4.10%.

In Q2 2024, Flowers Foods, Inc. (NYSE:FLO)’s brands surpassed the fresh packaged bread category, achieving growth in units across tracked channels and leading in both unit and dollar share gains. Private label and away-from-home margins continued to show positive trends as profitability improved in existing accounts, and new, higher-margin business filled available capacity. Additionally, cost-saving initiatives are making a significant impact, resulting in a notable sequential improvement in expenses.

Flowers Foods, Inc. (NYSE:FLO)’s strong cash position helped it achieve a long dividend growth streak. In the first six months of the year, the company generated $168.4 million in operating cash flow. The company also remained committed to its shareholders’ obligation, returning $102 million to investors through dividends. It had $7 million available in cash and cash equivalents at the end of the quarter. The company had $3.4 billion available in total assets.

Flowers Foods, Inc. (NYSE:FLO) was a part of 26 hedge fund portfolios at the end of Q2 2024, compared with 27 in the previous quarter, as per Insider Monkey’s database. These stakes are valued at $269 million in total.