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Smucker Boosts Dividend 9.1% In Second Increase This Year

DOW JONES NEWSWIRES J.M. Smucker Co. (SJM) raised its quarterly dividend 9.1%, adding onto a 10% increase the food maker unveiled in January in an effort to disburse more cash to shareholders. Smucker, which makes jams, jellies, Jif peanut butter and Pillsbury products, has joined a long list of companies that are raising payouts to make use of cash stockpiled during the recession. The 4-cent increase to 48 cents a share will cost the company about $18.3 million a year. Shares were off 8 cents at $79.92 after-hours Friday. The stock was up 29% over the past 12 months. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;

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