McCormick & Company, Incorporated (NYSE:MKC) to Issue Quarterly Dividend of $0.48

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) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date 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 payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE MKC opened at $65.45 on Wednesday. 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 has a 1-year low of $63.15 and a 1-year high of $86.24. The business has a 50 day simple moving average of $66.13 and a two-hundred day simple moving average of $70.25. The stock has a market capitalization of $17.57 billion, a PE ratio of 22.65, a P/E/G ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly 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 firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

About McCormick & Company, Incorporated

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.