McCormick increases dividend for 29th consecutive year

Dividend Aristocrat McCormick will increase its quarterly dividend by 8,1%.

The quarterly dividend will be raised from $0,37 to $0,40 per share, marking the 29th consecutive year that McCormick has increased it's dividend.

Alan D. Wilson, Chairman, President & CEO, said, "McCormick has a profitable business that generates strong cash flow.  Our dividend program is an important way for McCormick shareholders to participate in our success. The company's long history of higher dividend payments demonstrates our commitment to building value for our shareholders."

McCormick has paid dividends each year since 1925 and has doubled the amount of the quarterly dividend since 2007.  Through its dividend and share repurchases, the company expects to return a record $400 million of cash to shareholders in fiscal year 2014.

At the current stock price of $72,86 McCormick has an indicated dividend yield of 2,2%.

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