Ingredion hikes dividend by 1.6%
Ingredion Incorporated (INGR) will raise its quarterly dividend by 1.6 percent to 64 cents per share in 2020. This follows a dividend hike of 0.8 percent to $0.63 per share announced by the ingredient solutions provider in 2019. This also marks the 10th consecutive year of annual dividend increases by Ingredion based on calendar years. The next dividend is payable on October 26, 2020, to stockholders of record at the close of business on October 1, 2020. A new annualized rate of $2.56 per share yields 3.1% at a stock price of $81.30. This year the stock price of Ingredion has lost approximately 12 percent. In the press release dated September 16, 2020, Ingredion announces the dividend hike and mentions that this is the sixth consecutive year that Ingredion’s board has approved a quarterly dividend increase in the third quarter. The company did not announce a dividend increase in 2014, following big hikes of 61.5 percent (2013), 30.0 percent (2012) and 42.9 percent (2011) in the previou