The board of directors of global agribusiness and food company Bunge has approved a 10.5% increase in the company’s regular quarterly cash dividend.
The increase edges up from $0.19 to $0.21 per common share and is payable on 2 September to shareholders of record on 19 August 2009.
The company also declared a quarterly cash dividend of $1.21875 per share on its 4.875% cumulative convertible perpetual preference shares, payable on 1 September to shareholders of record on 15 August 2009.
Bunge last month cut its full-year earnings guidance as it posted a quarterly net loss of US$195m.
For the quarter ended 31 March, Bunge booked a net loss of $1.76 a share, compared with a year-earlier profit of $289m, or $2.10 a share.