McCormick Announces Increase in Quarterly Dividend

Rhea-AI Summary

McCormick (NYSE: MKC) announced a quarterly dividend increase from $0.42 to $0.45 per share, payable January 13, 2025 to shareholders of record December 30, 2024. This marks the company's 101st year of continuous dividend payments and 39th consecutive year of dividend increases. The company, recognized as a Dividend Aristocrat, has maintained dividend payments since 1925, demonstrating its commitment to returning value to shareholders.

Positive

• Increased quarterly dividend by 7.1% (from $0.42 to $0.45 per share)
• 39 consecutive years of dividend increases, maintaining Dividend Aristocrat status
• 101-year track record of continuous dividend payments

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• None.

HUNT VALLEY, Md., Nov. 19, 2024 /PRNewswire/ -- The Board of Directors of McCormick & Company, Incorporated (NYSE: MKC) today declared an increase in the quarterly dividend from $0.42 to $0.45 per share on its common stocks, payable January 13, 2025 to shareholders of record December 30, 2024. This marks the Company's 101st year of continuous dividend payments and the 39th consecutive year it has increased its quarterly dividend.

Brendan M. Foley, President & CEO, said "McCormick is a growth company. We are committed to advancing our leadership and our differentiation and creating long-term shareholder value. We are proud to be recognized as a Dividend Aristocrat and I am honored to announce another dividend increase which reflects our ongoing commitment to returning cash to shareholders."

McCormick has paid dividends each year since 1925 and is recognized as a member of the S&P 500 Dividend Aristocrats Index.

About McCormick

McCormick & Company, Incorporated is a global leader in flavor. With over $6.5 billion in annual sales across 150 countries and territories, we manufacture, market, and distribute herbs, spices, seasonings, condiments and flavors to the entire food and beverage industry including retailers, 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, Gourmet Garden, FONA and Giotti. The breadth and reach of our portfolio uniquely position us to capitalize on the consumer demand for flavor in every sip and bite, through our products and our customers' products. We operate in two segments, Consumer and Flavor Solutions, which complement each other and reinforce our differentiation. The scale, insights, and technology that we leverage from both segments are meaningful in driving sustainable growth.

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 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-302310620.html

SOURCE McCormick & Company, Incorporated

FAQ

What is McCormick's (MKC) new quarterly dividend amount for 2025?

McCormick's new quarterly dividend is $0.45 per share, increased from $0.42.

When will McCormick (MKC) pay its next dividend in 2025?

McCormick will pay its next dividend on January 13, 2025, to shareholders of record as of December 30, 2024.

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

McCormick has increased its dividend for 39 consecutive years.

How long has McCormick (MKC) been paying dividends?

McCormick has been paying dividends continuously since 1925, marking 101 years of dividend payments.