McCormick Announces Increase in Quarterly Dividend

Rhea-AI Summary

The Board of Directors of McCormick & Company announced a quarterly dividend increase from $0.62 to $0.68 per share on its common stocks, reflecting a split-adjusted basis of $0.34 due to a 2-for-1 stock split effective December 1, 2020. The dividend will be payable on January 11, 2021 to shareholders of record on December 31, 2020. This marks the 35th consecutive year of dividend increases, with the current amount double that of 2013.

Positive

• Quarterly dividend increased from $0.62 to $0.68, reflecting growth.
• 35 consecutive years of dividend increases indicates strong historical performance.
• Company aims for long-term sustainable growth and increased shareholder value.

Negative

• None.

HUNT VALLEY, Md., Nov. 20, 2020 /PRNewswire/ -- The Board of Directors of McCormick & Company, Incorporated (NYSE: MKC) today declared an increase in the quarterly dividend from $0.62 to $0.68 per share on its common stocks, which will be paid on a split-adjusted basis of $0.34 per share to reflect the 2-for-1 stock split that is effective December 1, 2020.  The dividend is payable January 11, 2021 to shareholders of record December 31, 2020.  This marks the 35^th consecutive year that the Company has increased its quarterly dividend.  At $0.68, the quarterly dividend is double the amount paid in 2013.

Lawrence E. Kurzius, Chairman, President & CEO, said "Our overarching focus on long-term sustainable growth is relentless.  We are confident our strategies will continue to drive McCormick forward and further 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 $5 billion in annual sales across 150 countries and territories, we manufacture, market and distribute spices, seasoning mixes, condiments and other flavorful products to the entire food industry including ecommerce 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, Schwartz, Kamis, Kohinoor, 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 Twitter, Instagram and LinkedIn.

For information contact:

Corporate Communications: 
Lori Robinson (410) 527-6004 or lori_robinson@mccormick.com

Investor Relations:
Kasey Jenkins (410) 771-7140 or kasey_jenkins@mccormick.com

View original content:http://www.prnewswire.com/news-releases/mccormick-announces-increase-in-quarterly-dividend-301178309.html

SOURCE McCormick & Company, Inc.

FAQ

What is the new dividend amount for McCormick (MKC)?

The new dividend amount for McCormick (MKC) is $0.68 per share.

When is the dividend payable for McCormick (MKC)?

The dividend is payable on January 11, 2021.

What is the record date for McCormick's (MKC) dividend?

The record date for McCormick's (MKC) dividend is December 31, 2020.

How many years has McCormick (MKC) increased its dividend?

McCormick (MKC) has increased its dividend for 35 consecutive years.

What was McCormick's (MKC) dividend in 2013?

In 2013, McCormick's (MKC) dividend was $0.34 per share.