Tony the Tiger of Frosted Flakes fame likes to say his product is "Grrrrrrreat!" For investors, the latest dividend news from the maker of Frosted Flakes, Kellogg (NYSE: K) may be great.

The company said it plans to boost its quarterly dividend by 8% in the third quarter to 40.5 cents a share. The new dividend will be payable on June 15th to shareholders of record on June 1st.

Based on Friday's closing price, Kellogg would yield 3% when factoring in the new dividend and the company has rock-solid dividend history, having paid a dividend since 1925 and the most recently quarterly payout represented the 342nd dividend the company paid.

Kellogg's dividend growth is also note, coming in at about 50% over the past six years. The company also increased its dividend by more than 10% in the third quarter of 2009.

As have noted in the past, food stocks are a great avenues for income investors to find reliable dividend payers and consistently rising payouts. Kellogg is a prime example as the company's biggest rival, General Mills (NYSE: GIS).

For roughly the same yield as Kellogg, General Mills pays a bigger dividend in dollar terms and Big G has sharply outperformed Kellogg over the past two years when it comes to capital appreciation.