Balchem Corporation (BCPC) will raise its annual dividend by 11.5 percent to 58 cents per share. This follows a 10.6 percent hike to $0.52 per share announced by Balchem in 2019. This marks the 11th consecutive year of annual dividend increases by the food processing and specialty products company.
The next dividend is payable on January 22, 2021 to stockholders of record at the close of business on December 28, 2020. The new annual rate of 56 cents yields 0.5% at a stock price of $113.66.
Ted Harris, Balchem’s CEO and President, said, “Balchem has a long-standing commitment to an annual dividend and we are pleased to announce the continuation of that commitment. This dividend represents the eleventh consecutive increase in our annual dividend, reflecting both the consistently outstanding financial performance the company has delivered and the Board’s continued confidence in our long-term strategies.”
Balchem Corporation reports four business segments: Human Nutrition & Health; Animal Nutrition & Health; Specialty Products; and Industrial Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market. The Industrial Products segment manufactures and supplies certain derivative products into industrial applications. Balchem was founded in 1967 and became a publicly traded company in 1970. The company's corporate headquarters are located in New Hampton, New York, along with a broad network of sales offices, manufacturing sites, and R&D centers, primarily across the US and Europe.