McCormick keeps rewarding shareholders with higher dividends

Dividend Aristocrat McCormick has now raised its dividend 36 consecutive years

Dividend Aristocrat McCormick & Company (symbol: MKC) has rewarded investors with yet another nice dividend increase in 2021. Shareholders will receive a 8.8 percent dividend increase to $0.37 quarterly per share. 

McCormick, a US manufacturer of spices, seasoning mixes, condiments and other flavorful products, has paid dividends each year since 1925.

This new dividend hike just announced by MKC will mark the 36th consecutive year of annual dividend increases. At the new rate of $0.37 per share, the quarterly dividend is double the amount paid in 2014. Last year McCormick announced a 10 percent dividend hike.

Lawrence E. Kurzius, Chairman, President & CEO, said "Our focus on growth is relentless as we continue to drive McCormick forward and further build value for all of our shareholders. We are proud to be a Dividend Aristocrat and remain committed to our long history of returning cash to shareholders. I am delighted to announce another dividend increase."  

The increased McCormick dividend of 37 cents will be payable January 10, 2022 to shareholders of record December 31, 2021. The new annual dividend rate of $1.48 per share yields 1.7% at a stock price of $85.82. 

McCormick & Company, Incorporated is a manufacturer of spices, seasoning mixes, condiments and other flavorful products to the food industry-retailers, food manufacturers and foodservice businesses..  The company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry – retail outlets, food manufacturers and foodservice businesses. The company's brands include Aeroplane, Billy Bee, Brand Aromatics, Club House, Cholula Hot Sauce and Cattlemen's BBQ sauce. McCormick is a Dividend Aristocrat and has paid dividends each year since 1925.