--- title: "General Mills raises dividend despite falling short of revenue estimates in fiscal Q4" description: "General Mills Inc (NYSE: GIS) reported weaker-than-expected revenue for its Q4, causing its shares to drop nearly 10%. Despite this, the company announced a 1.7% increase in its quarterly dividend. Th" type: "news" locale: "en" url: "https://longbridge.com/en/news/207309251.md" published_at: "2024-06-26T13:37:15.000Z" --- # General Mills raises dividend despite falling short of revenue estimates in fiscal Q4 > General Mills Inc (NYSE: GIS) reported weaker-than-expected revenue for its Q4, causing its shares to drop nearly 10%. Despite this, the company announced a 1.7% increase in its quarterly dividend. The CEO expressed confidence in capitalizing on new opportunities and delivering for consumers and shareholders in the year ahead. Analysts at RBC Capital maintained their "sector perform" rating on General Mills stock. The company is also facing a lawsuit over racial discrimination at one of its factories. General Mills Inc (NYSE: GIS) is in the red at writing after reporting weaker-than-expected revenue for its fourth financial quarter. Shares of the processed consumer foods company are now down nearly 10% versus their year-to-date high. ## General Mills issues downbeat guidance General Mills stock is taking a hit this morning also because its management failed to impress with the guidance. The multinational now forecasts its adjusted per-share earnings to climb up to 1.0% in fiscal 2025. Analysts, in comparison, were at a 3.0% increase instead. Jeff Harmening – the chief executive of General Mills said in a press release today: > As we move into 2025, our top priority is to accelerate organic net sales growth, and our volume growth, by delivering remarkable experiences across our portfolio of leading brands. GIS improved its gross margin by 140 basis points in its recently concluded quarter to 35.8%. General Mills shares are now trading below the price at which they started the year 2024. Watch here: https://www.youtube.com/embed/yQzatjblD3Y?feature=oembed ## General Mills Q4 earnings snapshot - Earned $558 million versus the year-ago $615 million - Per-share earnings also declined from $1.04 to 98 cents - Adjusted EPS printed at $1.01 as per the earnings report - Sales jumped 6.0% year-over-year to $4.714 billion - Consensus was 99 cents a share on $4.85 billion in sales General Mills ended the year with sales down 1.0% versus 2023. Still, CEO Harmening also said on Wednesday: > We plan to drive another year of strong HMM cost savings, allowing us to reinvest in exciting growth ideas that meet evolving consumer needs. ## GIS announces an increase in dividend Despite coming in shy of Street estimates for Q4 revenue, General Mills still announced a 1.7% increase in its quarterly dividend to 60 cents per share. According to chief executive Jeff Harmening: > I’m confident we’re ready to capitalize on new opportunities, advance our Accelerate strategy, and deliver for our consumers and our shareholders in the year ahead. Ahead of the earnings release, analysts at RBC Capital reiterated their “sector perform” rating on General Mills stock. Their $70 price objective still translates to about a 10% upside from here. The investment firm did not upgrade GIS, however, as consumption data signals weaker trends, its analysts told clients in a research note last week. Note that General Mills is currently facing a lawsuit over racial discrimination at its Convington factory. General Mills shares traded at a high of $90 in May of 2023. The post General Mills raises dividend despite falling short of revenue estimates in fiscal Q4 appeared first on Invezz ### Related Stocks - [GIS.US - General Mills](https://longbridge.com/en/quote/GIS.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Investors Buy High Volume of General Mills Put Options (NYSE:GIS) | General Mills, Inc. 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