General Mills (GIS)
General Mills is a packaged food giant, with more than 100 brands and operations in more than 100 countries. General Mills has not cut its dividend for 124 consecutive years. It has returned to growth mode in the last five years, mostly thanks to the acquisition of Blue Buffalo and the pandemic, which greatly increased food consumption at home.
On September 12th, 2024, General Mills announced that it agreed to sell its North American yogurt business for $2.1 billion in cash. The proceeds will be used for share repurchases. The sale of this business, which generated 8% of total sales last year, is expected to reduce earnings-per-share by ~3% in the first year after the sale.