McCormick & Co. raises its quarterly dividend 7.7%
By Ben Glickman
McCormick & Co. (MKC) will raise its quarterly dividend 7.7%, which the company said reflects its commitment to long-term growth and returning cash to shareholders.
The Hunt Valley, Md.-based spices and flavorings company said Tuesday it would raise its payout to 42 cents from 39 cents, representing its 38th consecutive year raising its dividend.
The payout, equal to $1.68 per share a year, represents an annual yield of about 2.6% based on the Tuesday closing price of $65.01.
The company last raised its dividend in November 2022, when it increased the payout to 39 cents from 37 cents. McCormick said it has paid dividends every year since 1925.
The dividend is payable Jan. 8 to shareholders of record Dec. 29.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-28-23 1911ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks