Sysco Declares Increase to Quarterly Dividend

Rhea-AI Summary

Sysco Corporation (NYSE:SYY) announced a 2 cent increase in its quarterly cash dividend to $0.49 per share from $0.47. This new dividend is set to be paid on July 22, 2022, to stockholders of record as of July 1, 2022. The CFO, Aaron Alt, emphasized that this decision reflects the company's commitment to shareholder returns and confidence in its Recipe for Growth strategy, translating to an additional $0.08 per share on an annual basis for fiscal 2023.

Positive

• Dividend increased to $0.49 per share, enhancing shareholder returns.
• Demonstrates confidence in the company's growth strategy.
• Additional $0.08 per share on an annual basis for fiscal year 2023.

Negative

• None.

HOUSTON, April 28, 2022 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors has approved a 2 cent increase in the quarterly cash dividend to $0.49 per share from the current $0.47 per share. The new dividend is payable for the first time on July 22, 2022, to common stockholders of record at the close of business on July 1, 2022.

“Our Board’s decision today to increase the dividend demonstrates the importance of shareholder returns as part of our balanced capital allocation strategy. This increase, effectively $0.08 per share on an annual basis for fiscal year 2023, again demonstrates our confidence in our Recipe for Growth strategy,” said Aaron Alt, Sysco’s chief financial officer.

About Sysco

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. With more than 58,000 associates, the company generated sales of more than $51 billion during fiscal 2021 that ended July 3, 2021. This included operating 343 distribution facilities worldwide that served over 650,000 customer locations. Information about our CSR program, including Sysco’s 2021 Corporate Social Responsibility Report, can be found at www.sysco.com/csr2021report.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.

For more information contact:
Kevin Kim	Shannon Mutschler
Investor Contact	Media Contact
kevin.kim@sysco.com	shannon.mutschler@sysco.com
T 281-584-1219	T 281-584-4059

FAQ

What is the new dividend amount for Sysco Corporation (SYY)?

The new dividend amount is $0.49 per share.

When will Sysco's new dividend be paid to shareholders?

The new dividend will be paid on July 22, 2022.

What is the record date for Sysco's dividend payment?

The record date for Sysco's dividend payment is July 1, 2022.

How much has Sysco increased its dividend by?

Sysco has increased its dividend by 2 cents.

How does the dividend increase reflect Sysco's business strategy?

The increase demonstrates Sysco's commitment to shareholder returns and confidence in its Recipe for Growth strategy.