J M Smucker Co (SJM.N), maker of Jif peanut butter and Folgers coffee, raised its dividend by 10 percent, and increased its stock buyback by five million shares. The company, which had previously said that its dividend level was below its long-term target, raised its quarterly dividend to 44 cents a share from 40 cents a share. Smucker's shares closed at $61.73 Thursday on the New York Stock Exchange. (Reporting by Mihir Dalal in Bangalore; Editing by Prem Udayabhanu)
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