Flowers Foods: increases dividend by 20 percent

Thomasville / GA. (ffi) The board of directors of Flowers Foods Inc. announced a quarterly dividend of 0,15 USD per share, or 0,60 USD per share on an annualized basis. This represents an increase of 20 percent over the dividend paid previously. The dividend is payable on June 27 to shareholders of record on June 13, 2008. George E. Deese, Flowers Foods´ chairman of the board, CEO, and president, said the board has confidence in the company and its future: «Our business continues to perform well in operations and in the marketplace. We are generating good cash flow and our balance sheet is strong. The board believes the increased dividend is an appropriate way to reward long-term shareholders». Flowers Foods´ board reviews the dividend rate at its first quarter meeting and then considers renewal of the dividend each quarter.