Flowers Foods recently posted its second quarter 2020 financial report, noting that sales increased 5.1%.
"I am pleased to report a record quarter in which we executed well and capitalized on the strong demand for our leading brands," said Ryals McMullian, Flowers Foods' president and CEO. "Our team continued to perform admirably in challenging circumstances, and I am grateful for their dedication and commitment. Their hard work combined with the flexibility of our bakery network have enabled us to continue serving our markets uninterrupted throughout the COVID-19 pandemic."
The company also provided an update on its strategic priorities and long-term outlook.
"Our long-term strategic plans are intended to position Flowers to drive growth, operate more efficiently and, ultimately, deliver enhanced shareholder value, now and in the years to come," said Ryals McMullian, Flowers Foods president and CEO. "As part of our updated strategic priorities, we are shifting our focus to value-added, branded retail products that we project will drive the top line and improve margins. We also expect our optimized portfolio to drive share gains by targeting growth segments with innovative products."
Today, the company announced that the board of directors has declared a quarterly dividend of $.20 per share, an increase of 5.3% over the same quarter last year.