Food processor ConAgra (CAG) is currently paying an annual dividend yield of 2.7%, but what you need to know is that the company will most likely be raising its quarterly payment in the next month.

ConAgra has announced a dividend increase during the month of September for the last four years, and I expect that streak to continue next month. The company has been raising its dividend during the latter part of the month, and I believe its next dividend announcement will come during the week of September 23.

The company is currently paying a quarterly dividend of $0.25. The last two years we have seen increases of a penny per year. I expect a similar increase this year, which would lift the company's dividend payment to $0.26.

Look for the announcement the third week of the month, with the stock going ex-dividend towards the end of October payment scheduled for the first week of December.

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.