General Mills declares quarterly dividend

MINNEAPOLIS — Packaged food maker General Mills Inc. raised its dividend on Tuesday, calling it a reflection of its robust financial condition and future growth prospects.

The company said the new quarterly dividend of 30.5 cents per share will be paid Aug. 1 to shareholders of record July 11. The new rate is nearly 9 percent higher than the quarterly dividend of 28 cents the company paid in its previous fiscal year.

General Mills, based in Minneapolis, makes foods such as Cheerios, Yoplait and Lucky Charms. The company reports its fourth-quarter results Wednesday.