McCormick & Company hikes dividend 8.3%
November 25, 2009
by Eric Schroeder
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.