McCormick & Company, Incorporated (NYSE:MKC) Increases Dividend to $0.48 Per Share

McCormick & Company, Incorporated (NYSE:MKC) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Monday, December 29th will be given a dividend of 0.48 per share on Monday, January 12th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 29th. This is a 6.7% increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45.

McCormick & Company, Incorporated has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 38 years. McCormick & Company, Incorporated has a dividend payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect McCormick & Company, Incorporated to earn $3.31 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 54.4%.

McCormick & Company, Incorporated Trading Up 1.4%

MKC opened at $65.45 on Wednesday. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61. The company’s 50 day simple moving average is $66.13 and its two-hundred day simple moving average is $70.25. McCormick & Company, Incorporated has a 1-year low of $63.15 and a 1-year high of $86.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.