Campbell Soup (NYSE: CPB) is pouring out another quarterly dividend. The company’s board of directors on Wednesday declared that its next payout would be $0.35 per share, to be dispensed on April 27 to stockholders of record as of April 9.
This amount did not come as a surprise, as Campbell has maintained it since late 2016. At that time the company bumped the dividend 12% higher.
At least Campbell is steady and consistent — it has handed out a distribution every quarter since mid-1980. Across that long stretch of time, the amount has ranged from just under $0.03 per share to the present level.
As a maker of canned food products, Campbell and its stock have proved quite resilient in the face of the SARS-CoV-2 coronavirus pandemic. Consumers are, sensibly, stocking up on comestibles that will last for a relatively long time in storage. Over the past month, Campbell’s share price has declined by almost 13%, while other stocks and the major market indexes have fallen at notably steeper rates.
Sentiment on the company has also improved following its most recent set of quarterly results, in which increased efficiency lifted bottom-line profitability well past analyst estimates. Campbell’s shares rose strongly on the back of the encouraging news.
On Wednesday, shares of the well-known consumer goods stock bucked the overall trend of the market by falling nearly 5% on the day. That drop, however, boosted the yield of the dividend, which now stands at nearly 3.4%.
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