Sysco Declares Increase to Quarterly Dividend

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Sysco (NYSE:SYY) has declared an increase in the quarterly cash dividend from $0.50 to $0.51 per share. The new dividend will be payable on July 26, 2024, to common stockholders of record as of July 5, 2024. This decision reflects Sysco's commitment to shareholder returns and its status as a Dividend Aristocrat.

Positive

• Sysco raises its quarterly cash dividend by $0.01 per share, from $0.50 to $0.51.
• The new dividend will be paid on July 26, 2024, to common stockholders of record on July 5, 2024.
• Sysco aims to reward shareholders with a planned annual dividend increase of $0.04 for fiscal year 2025.

Negative

• None.

HOUSTON, April 25, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors has approved a $0.01 increase in the quarterly cash dividend to $0.51 per share from the current $0.50 per share. The new dividend is payable for the first time on July 26, 2024, to common stockholders of record at the close of business on July 5, 2024.

“The Board’s decision today to increase the dividend underscores Sysco's commitment to shareholder returns and maintaining our status as a Dividend Aristocrat. Our decision today further rewards our shareholders with a planned annual dividend increase of $0.04 for fiscal year 2025,” said Kenny Cheung, Sysco’s executive vice president and 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 72,000 colleagues, the company operates 334 distribution facilities worldwide and serves approximately 725,000 customer locations. For fiscal year 2023 that ended July 1, 2023, the company generated sales of more than $76 billion. Information about our Sustainability program, including Sysco’s 2023 Sustainability Report and 2023 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.

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 quarterly cash dividend per share declared by Sysco (NYSE:SYY)?

Sysco has increased the quarterly cash dividend from $0.50 to $0.51 per share.

When will the new dividend be payable to common stockholders of Sysco (NYSE:SYY)?

The new dividend will be payable for the first time on July 26, 2024, to common stockholders of record as of July 5, 2024.

Who announced the increase in the quarterly cash dividend at Sysco (NYSE:SYY)?

Kenny Cheung, Sysco's executive vice president and chief financial officer, announced the increase in the quarterly cash dividend.

What does the increase in dividend reflect about Sysco (NYSE:SYY)?

The increase in dividend reflects Sysco's commitment to shareholder returns and its status as a Dividend Aristocrat.