MINNEAPOLIS, Dec 14, 2009 (BUSINESS WIRE) -- General Mills (NYSE: GIS) said today that its board of directors declared an increase in the quarterly dividend rate to 49 cents per share, effective with the dividend payable February 1, 2010, to shareholders of record January 11, 2010. With this rate increase, dividends paid to General Mills common shareholders in fiscal 2010 are expected to total $1.92 per share, up 12 percent from dividends of $1.72 per share paid in fiscal 2009.

This is the second quarterly dividend rate increase declared during fiscal 2010. The prior quarterly rate of 47 cents per share was established with the August 2009 payment.