June 7, 2010 (FinancialWire) — The board of directors of Flowers Foods (NYSE: FLO) has declared a quarterly dividend of $.20 per share, or $.80 per share on an annualized basis. This represents an increase of 14.3% over the dividend Flowers paid previously.

The dividend is payable on July 2, 2010, to shareholders of record on June 18, 2010.

George E. Deese, Flowers Foods' chairman of the board and CEO, said that is company remains committed to its strategy of investing its cash to build value for shareholders.

He said, "Our business continues to generate substantial cash flow that funds dividends to our shareholders, capital improvements, debt reduction and share repurchases as well as growth through market expansion and strategic acquisitions.”

Georgia-based Flowers Foods is a producer and marketer of packaged bakery foods for retail and foodservice customers. Among the company's brands are Nature's Own, Whitewheat, Cobblestone Mill, Blue Bird, and Mrs. Freshley's. Flowers operates 40 bakeries.

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