SPARKS, Md., Nov. 25, 2014 /PRNewswire/ -- The Board of Directors of McCormick & Company, Incorporated (NYSE: MKC) today declared an increase in the quarterly dividend from $0.37 to $0.40 per share on its common stocks, payable January 14, 2015 to shareholders of record December 31, 2014. This marks the 29th consecutive year that the Company has increased its quarterly 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.
McCormick & Company, Incorporated is a global leader in flavor with more than $4 billion in annual sales. McCormick manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry – retail outlets, food manufacturers and foodservice businesses – in more than 125 countries and territories. Since Willoughby M. McCormick founded the company selling root beer extract in 1889, McCormick has demonstrated a strong commitment to the communities in which it operates and the planet as a whole. Innovation in flavor and a clear focus on employee engagement and product quality has allowed McCormick to grow its business globally and become the flavor leader it is today. For more information, visit www.mccormickcorporation.com.
For information contact:
Joyce Brooks (410) 771-7244 or [email protected]
Lori Robinson (410) 527-6004 or [email protected]
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SOURCE McCormick & Company, Incorporated