Scotts Miracle-Gro Co (NYSE:SMG) announced that their board of directors had approved payment of a cash dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.89%. The second quarter dividend is payable on March 10, 2016, to the shareholders.

The Scotts Miracle-Gro Company was founded in 1868 and has it’s headquartered in Marysville Ohio. It is engaged in the manufacturing, marketing and selling of garden products and consumer lawns across the globe. The company’s global segment offers grass seed products, lawn fertilizer, spreaders, outdoor cleaners, lawn-related weed pest and disease control products. It also provides gardened soil, decorative products, live goods and seedling solutions among others products.

Scotts Lawn Services segment is responsible for providing residential and commercial lawn care, pest control service, tree and shrub care application of control products and fertilizer among other services.

As of September 30th, 2015, this company had 88-company oriented locations and 94 independent franchisees. This company mainly serves homes centers, warehouse clubs, mass merchandise, garden centers, indoor gardening, food and drug stores among others

Scotts Miracle-Gro director, Katherine Littlefield Hagedorn sold 5,767 shares of this company’s stock on Monday. These shares were sold at an average price of $65.33 for a total value of $376,758.11. Following this sale, the director currently owns 2,681 of this company, which are valued at approximately $175,149.73. This transaction was made public in a filing with Securities& Exchange Commission.

In other News, Scotts Miracle-Gro Company alongside The United State Conference of Mayors (USCM) announced the winner of grants totaling $160,000 in value. This was the GRO1000 program- a landmark garden and green space development. The winners were Mayor Kasim Reed – Atlanta, GA, Mayor Bill de Blasio – New York, Mayor Jorge O. Elorza – Providence and Mayor Fransic G.Slay from St Louis.

USCM CEO and the Executive Director Tom Cocharan stated that through their focus on supporting gardens and Garden spaces in America’s cities, this grant would help to touch many aspects of a community. This will range from improving environment to encouraging physical activities, from enhancing proper nutrition to encouraging locally grown products.