HOUSTON, Nov. 19, 2008 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced at its annual shareholder meeting that the Board of Directors has approved a nine percent increase in the quarterly cash dividend to $0.24 per share from the current $0.22 per share. The new dividend is payable on January 23, 2009, to common shareholders of record at the close of business on January 2, 2009.
"Annual dividend increases have been a consistent practice at Sysco ever since we went public in 1970. We are pleased to be able to raise the dividend again this year in the midst of an extremely difficult business environment," said Richard J. Schnieders, Sysco's chairman and chief executive officer. "We will continue to evaluate our dividend policy as business conditions warrant in the future."
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. The company operates 180 distribution facilities serving more than 400,000 customers. For the fiscal year 2008 that ended June 28, 2008, the company generated more than $37 billion in sales. For more information about Sysco visit the company's Internet home page at www.sysco.com.
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