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Ingredion raises dividend to 38 cents per share

WESTCHESTER, Ill. (AP) -- Ingredion Inc. said Wednesday that its board authorized an increase in the company's quarterly dividend to 38 cents per share from 26 cents per share.

The maker of food sweeteners, starches and nutrition ingredients said the dividend is payable on April 25, to shareholders of record as of April 1.

The increase is the fourth in the past two years for Ingredion, based in Westchester, Ill.

Shares of Ingredion rose $1.07 to close at $69.91.