An apparatus for storing and dispensing particulate material, such as bird seed, employs a dispensing valve having a first disk fixedly mounted in a housing and a second disk rotatably mounted in the housing. The first disk has circumferentially spaced first apertures and the second disk has circumferentially spaced second apertures. The boundaries of the first apertures intersect the periphery of the first disk, and the boundaries of the second apertures intersect the periphery of the second disk. The second disk can be rotated to select a desired position, such as a closed position in which the first and second apertures are completely unaligned, a fully open position in which the first and second apertures are completely aligned, or a partially open position in which the first and second apertures are partially aligned.