NEW BUSINESS
Valspar Corp., Minneapolis, announced a five-year pledge of $36 million in paint and funding to Habitat for Humanity. The pledge includes a $2 million contribution from the Valspar Corp. Foundation. Valspar donated more than $6 million in paint and $350,000 to support Habitat's affordable housing work in 2015, and anticipates maintaining this level of support through 2019.
Dividends
General Mills Inc., Golden Valley, has declared a quarterly dividend of 44 cents per share, payable May 1 to shareholders of record on April 10. The dividend is a 7 percent increase over the previous quarterly rate of 41 cents per share.
U.S. Bancorp, Minneapolis, said that Federal Reserve Board did not object to its comprehensive capital analysis and review. As a result, U.S. Bancorp announced plans to increase its annual dividend rate to $1.02 per share, or 25.5 cents per quarter, beginning in July. The U.S. Bancorp board of directors also approved a five-quarter authorization to repurchase up to $3.022 billion of its outstanding common stock beginning April 1.
