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

McCormick & Company, Incorporated (NYSE:MKC) declared a quarterly dividend on Tuesday, June 23rd. Shareholders of record on Monday, July 6th will be given a dividend of 0.48 per share on Monday, July 20th. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, July 6th.

McCormick & Company, Incorporated has increased its dividend 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 57.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect McCormick & Company, Incorporated to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 56.5%.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $47.41 on Wednesday. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 2.26 and a beta of 0.65. The stock has a 50 day simple moving average of $48.68 and a 200-day simple moving average of $58.24. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $78.16. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.