General Mills Stock Price, News & Analysis

The Board of Directors of General Mills (NYSE: GIS) has declared a quarterly dividend of $0.51 per share, payable on May 2, 2022, to shareholders on record as of April 8, 2022. This marks 123 years of uninterrupted dividend payments from the company. For fiscal 2021, General Mills reported net sales of $18.1 billion, with an additional $1.1 billion from non-consolidated joint ventures. The company's strategy focuses on brand growth and shareholder value.

Cinnamon Toast Crunch has unveiled its Cinnamoji Toast Crunch, a limited-edition cereal featuring Cinnamoji faces on each square piece. This unique product launches nationwide this month. Additionally, fans can participate in a sweepstakes for a personalized Cinnamoji box. Notable celebrity-themed cereal boxes will feature Chloe Kim, Justin Jefferson, Leslie Grace, Manuel Turizo, and SpongeBob SquarePants. Chloe Kim will kick off the promotions on January 27, including a special Go-GURT product. The campaign continues with new celebrity boxes soon.

General Mills (NYSE: GIS) announced it received an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase up to 2 million shares of its stock at $65.50 per share, which is 4.48% below its closing price of $68.57 on January 7, 2022. General Mills advises shareholders not to tender their shares, emphasizing that TRC is not affiliated with the company and the offer price is below market value. The offer's conditions include that the stock price must not decrease and TRC must secure financing.

General Mills and Chiquita are promoting affordable nutrition with their campaign 'Go Bananas for Breakfast!'. A balanced breakfast of Big G cereal, a Chiquita banana, and Yoplait yogurt costs just over $1. This meal provides key nutrients, including 12+ grams of whole grain, 30% DV of Calcium, 25% DV of Vitamin D, and 15% DV of Potassium. The campaign encourages families to enjoy nutritious meals without high costs and offers savings up to $6 through digital rebates and coupons.

General Mills reported a 6% increase in net sales to $5.0 billion for Q2 2022, while organic net sales rose 5%. However, operating profit fell 13% to $800 million, mainly due to input cost inflation and supply chain disruptions. Diluted EPS was $0.97, down 13%. The company updated its fiscal 2022 outlook, anticipating organic net sales growth of 4-5% and constant-currency adjusted operating profit decline of 1-4%, impacted by higher costs and the divestiture of European Yoplait.

General Mills has appointed Doug Martin as the new chief brand and disruptive growth officer, effective January 3, 2022. Martin, who has been with the company for 15 years, previously led its North America Dairy unit and has been responsible for successful brand innovations. In his new role, he will oversee global brand building and emergent business innovation. Dana McNabb, chief strategy and growth officer, emphasized the importance of combining brand and growth leadership to enhance relevance and drive long-term growth.

General Mills and UNCF will host the 2022 Annual Dr. Martin Luther King Jr. Holiday Breakfast on January 17, 2022, from 8:45 a.m. - 10:30 a.m. CST. Keynote speaker Laura Coates will lead a discussion aimed at motivating action towards racial equity. The event's proceeds support scholarships for local students. General Mills has committed over $6.7 million to UNCF since 1991, benefiting HBCU students. The virtual gathering promises to celebrate Dr. King's legacy while encouraging community engagement.

General Mills (NYSE: GIS) has achieved a prestigious double ‘A’ score from the global environmental non-profit CDP, recognizing its efforts in climate change and water security. As one of the few North American companies in the Food & Beverage sector to receive this accolade, General Mills has demonstrated leadership and transparency in reducing greenhouse gas emissions and promoting sustainable water management. The company has a strong track record, being the first to publish a full value chain climate goal approved by the Science Based Targets initiative in 2015.