US food giant ConAgra Foods has increased its quarterly dividend to US$0.19 per common share.


The new rate will begin with the dividend payment on 3 December, which will be made to shareholders of record as of 2 November.


ConAgra has also announced an additional $500m of share repurchases. ConAgra said it plans to repurchase shares periodically, depending on market conditions, and would make purchases in the open market or through privately negotiated transactions.


“Today’s board actions demonstrate continued confidence in the company’s overall outlook and ability to generate strong amounts of free cash in the future,” said CEO Gary Rodkin. “As always, we remain committed to returning capital to shareholders in a way that appropriately balances a healthy dividend, share repurchases and a strong balance sheet.”

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