McCormick & Company hikes dividend 8.3%

by Eric Schroeder
Share This:

SPARKS, MD. — The board of directors of McCormick & Company, Inc. on Nov. 24 raised its quarterly dividend 8.3% to 26c per share from 24c. The new dividend is payable Jan. 15, 2010, to shareholders of record as of Dec. 31, 2009.

“This dividend increase allows McCormick shareholders to continue to benefit from our success as we have increased cash from operations through higher profits and effective working capital management,” said Alan D. Wilson, chairman, president and chief executive officer.

McCormick has paid dividends every year since 1925 and tripled the dividend in the last 10 years.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.