Benzinga | Jul 9, 2021 09:35AM EDT

J M Smucker Hikes Dividend By 10%

* J M Smucker Co (NYSE:SJM) said its Board of Directors approved a 10% hike in the quarterly dividend from $0.90 to $0.99 per common share.

* The dividend will be paid on September 1, 2021, to shareholders of record at the close of business on Friday, August 13, 2021.

* The hike represents the 20th consecutive year of dividend growth.

* Cash and equivalents of the company totaled $334.3 million as of April 30, 2021.

* Price action: SJM shares closed higher by 0.38% at $129.53 on Thursday.