McCormick Announces Increase in Quarterly Dividend

Rhea-AI Summary

McCormick & Company, Incorporated (NYSE:MKC) has declared an increase in the quarterly dividend from $0.39 to $0.42 per share on its common stocks, payable January 8, 2024 to shareholders of record December 29, 2023. This marks the 38th consecutive year that the Company has increased its quarterly dividend. Brendan M. Foley, President & CEO, emphasized the company's focus on growth, performance, and people, and the continued execution of proven strategies to deliver sustainable long-term growth and build shareholder value. McCormick has paid dividends each year since 1925.

Positive

• 38th consecutive year of increasing quarterly dividend
• Relentless focus on growth, performance, and people
• Commitment to returning cash to shareholders

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• None.

HUNT VALLEY, Md., Nov. 28, 2023 /PRNewswire/ -- The Board of Directors of McCormick & Company, Incorporated (NYSE:MKC) today declared an increase in the quarterly dividend from $0.39 to $0.42 per share on its common stocks, payable January 8, 2024 to shareholders of record December 29, 2023. This marks the 38^th consecutive year that the Company has increased its quarterly dividend. 

Brendan M. Foley, President & CEO, said, "With our relentless focus on growth, performance and people, and the continued execution of our proven strategies, we are well positioned to deliver sustainable long-term growth and build shareholder value. We remain committed to our long history of returning cash to shareholders and I am pleased to announce another dividend increase."

McCormick has paid dividends each year since 1925.

About McCormick

McCormick & Company, Incorporated is a global leader in flavor. With over $6 billion in annual sales across 170 countries and territories, we manufacture, market and distribute spices, seasoning mixes, condiments and other flavorful products to the entire food industry including e-commerce channels, grocery, food manufacturers and foodservice businesses. Our most popular brands with trademark registrations include McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane and Gourmet Garden. Every day, no matter where or what you eat or drink, you can enjoy food flavored by McCormick.

Founded in 1889 and headquartered in Hunt Valley, Maryland USA, McCormick is guided by our principles and committed to our Purpose – To Stand Together for the Future of Flavor. McCormick envisions A World United by Flavor where healthy, sustainable and delicious go hand in hand. To learn more, visit www.mccormickcorporation.com or follow McCormick & Company on X, Instagram and LinkedIn.

For information contact:

Investor Relations:
Faten Freiha - faten_freiha@mccormick.com

Global Communications:
Lori Robinson lori_robinson@mccormick.com

View original content:https://www.prnewswire.com/news-releases/mccormick-announces-increase-in-quarterly-dividend-301999901.html

SOURCE McCormick & Company, Incorporated

FAQ

What is the new quarterly dividend declared by McCormick & Company, Incorporated (NYSE:MKC)?

The new quarterly dividend is $0.42 per share on its common stocks.

When is the new dividend payable to shareholders of McCormick & Company, Incorporated (NYSE:MKC)?

The dividend is payable on January 8, 2024.

How long has McCormick & Company, Incorporated (NYSE:MKC) been paying dividends?

McCormick has paid dividends each year since 1925.

What is the focus of McCormick & Company, Incorporated (NYSE:MKC) according to Brendan M. Foley, President & CEO?

The focus is on growth, performance, and people, with the aim to deliver sustainable long-term growth and build shareholder value.