The J.M. Smucker Co. Announces Dividend Increase

ORRVILLE, Ohio, July 14, 2023 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM) today announced its Board of Directors approved an increase in the quarterly dividend from $1.02 to $1.06 per common share, an increase of four percent. The next dividend will be paid on Friday, September 1, 2023, to shareholders of record at the close of business on Friday, August 18, 2023. The Company remains committed to returning value to shareholders, as this represents the 22^nd consecutive fiscal year of dividend growth.

The J.M. Smucker Co. Forward-Looking Statements

This press release contains a forward-looking statement about dividends. This statement is made on the basis of the Company's views and assumptions as of this time, and the Company undertakes no obligation to update this statement unless required by law. This statement is not a guarantee of future performance, and actual events or results may differ materially from this statement. Investors should consult the Company's filings with the Securities and Exchange Commission (including the information set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the 2023 fiscal year ended April 30, 2023) for information about certain factors that could cause such differences. Copies of these filings may be obtained by visiting the Company's website at jmsmucker.com.

About The J.M. Smucker Co.

At The J.M. Smucker Co., it is our privilege to make food people and pets love by offering a diverse portfolio of brands available across North America. We are proud to lead in the coffee, consumer foods, dog snacks, and cat food categories by offering brands consumers trust for themselves and their families each day, including Folgers^®, Dunkin'^®, Café Bustelo^®, Jif^®, Smucker's^® Uncrustables^®, Smucker's^®, Milk-Bone^®, and Meow Mix^®. Through our unwavering commitment to producing quality products, operating responsibly and ethically and delivering on our Purpose, we will continue to grow our business and the positive impact we have on society. For more information, please visit jmsmucker.com.

The J.M. Smucker Co. is the owner of all trademarks referenced herein, except for Dunkin'^® which is a trademark of DD IP Holder LLC. The Dunkin'^® brand is licensed to The J.M. Smucker Co. for packaged coffee products sold in retail channels, such as grocery stores, mass merchandisers, club stores, e-commerce and drug stores, and in certain away from home channels. This information does not pertain to products for sale in Dunkin'^® restaurants.

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SOURCE The J.M. Smucker Co.