That General Mills managed such robust dividend payouts without putting upward pressure on the dividend payout ratio (the percentage of profits the dividend represents) and the cash dividend payout ratio (the proportion of free cash flow that goes to dividend payouts) is good evidence that its dividend gravy train is in great shape.
If nothing else, cash flush Apples of the world feel investor and boardroom pressure to go public with a coherent policy covering a rising payout ratio on dividends and share buybacks plus acquisitions.
Not only that but the industry cost-income ratio also fell to an average of 79.76% down 1% from last year while margin pressure increased across different performance measurements.