HOUSTON, Nov. 15, 2013 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors has approved a 3.6 percent increase in the quarterly cash dividend to $0.29 per share from the current $0.28 per share. The new dividend is payable on January 24, 2014, to common shareholders of record at the close of business on January 3, 2014.
"Sysco has paid a quarterly cash dividend every quarter since 1970 and we understand how important the dividend, and its growth, is to our stockholders. As a result, we are pleased to be able to increase the dividend for the 45th time since becoming a public company," said Bill DeLaney, Sysco's president and chief executive officer. "Our strong balance sheet, combined with our ongoing focus on improving free cash flow, enhances our ability to return value to our shareholders."
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. The company operates 193 distribution facilities serving approximately 425,000 customers. For Fiscal Year 2013 that ended June 29, 2013, the company generated sales of more than $44 billion. For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at www.twitter.com/Sysco. For important news regarding Sysco, visit the Investor Relations portion of the company's Internet home page at www.sysco.com/investors, follow us at www.twitter.com/SyscoStock and download the new Sysco IR App, available on the iTunes App Store and the Google Play Market. In addition, investors should also continue to review our press releases and filings with the Securities and Exchange Commission. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.
CONTACT: For more information contact: Neil Russell Vice President, Investor Relations T 281-584-1308 Charley Wilson Vice President, Corporate Communications T 281-584-2423