Ingredion (INGR) hikes dividend for 14th consecutive year

Ingredion Incorporated (INGR) announced a dividend hike of 2.6% to $0.80 quarterly per share. This marks the 15th consecutive year of increases for the ingredient solutions provider.

The board of directors of Ingredion Incorporated declared a quarterly dividend of $0.80 per share on the Company’s common stock. The dividend is payable on Oct. 22, 2024, to stockholders of record at the close of business on Oct. 1, 2024. This is the tenth consecutive year Ingredion’s board approved a quarterly dividend increase in the third quarter.

A new annualized rate of $3.20 per share yields 2.4% at a stock price of $133. Two years ago Ingredion hiked the dividend by 9.2%. The company now pays an estimated $210 million annually in dividends.

Ingredion Incorporated is a global ingredient solutions provider. The company is principally engaged in the production and sale of starches and sweeteners for a wide range of industries. Ingredion turns corn, tapioca, potatoes, grains, fruits, and vegetables into value-added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing and other industries. The company's four reportable business segments are: North America, South America, Asia Pacific and Europe, Middle East, and Africa. Ingredion was incorporated as a Delaware corporation in 1997 and has paid a dividend every year since 1998.