Topic: How To Invest

Dividend Advisor Hotline – Friday, June 9, 2023

Article Excerpt

CAMPBELL SOUP CO., $46.05, New York symbol CPB, is a buy for long-term gains. Campbell last raised your quarterly dividend with the February 2021 payment. Investors now receive $0.37 a share, up 5.7% from $0.35. The new annual rate of $1.48 yields a solid 3.2%. Under its new strategic plan, which began in 2018, Campbell sold most of its international and refrigerated-foods businesses. That let it focus on canned soups, pasta and V8 vegetable juices. Campbell also kept its snack food operations. They were significantly expanded in March 2018 when the company paid $6.1 billion for snack-foods maker Snyder’s-Lance. Campbell also continues to narrow its focus to its most-profitable products. For example, it has agreed to sell its Emerald nuts business (part of the Snyder’s-Lance acquisition) to Flagstone Foods. Campbell has not yet revealed the selling price. However, sales of Emerald’s products totalled just $66 million in the fiscal year ended July 31, 2022. Meantime, in its fiscal 2023 third quarter, ended April 30, 2023, the…