International Flavors & Fragrances (IFF) will raise its quarterly dividend by 2.6 percent to 79 cents per share in 2021. This follows a 2.7 percent hike to $0.77 per share in 2020, matching the 2019 dividend hike of 2.7 percent dividend hike. Based on calendar years the company has hiked its dividend for 19 consecutive years.
The next dividend is payable on October 5, 2021 to shareholders of record as of September 24, 2021. A new annual rate of $3.16 per share yields 2.1% at a stock price of $151. The next ex-dividend date for IFF is September 23, 2021.
International Flavors & Fragrances Inc. creates, manufactures and supplies flavors and fragrances for the food, beverage, personal care, and household products industries. The company operates through three segments: Taste, Frutarom (acquired in 2018) and Scent. Its products are sold to manufacturers of perfumes and cosmetics, hair and other personal care products, soaps and detergents, meat and other processed foods, beverages, snacks and savory foods, sweet and baked goods, and pharmaceutical and oral care products, among others. International Flavors & Fragrances has key basic research and development centers in Tilburg, the Netherlands, Neuilly and Grasse, France, and Nanjing, China. The company has been paying a dividend to shareholders since at least 1982.