McCormick (MKC) will raise its quarterly dividend by 8.8 percent to $0.37 per share in 2021. This follows a dividend increase of  9.7 percent to 68 cents per share by MKC in 2020 and marks the Dividend Aristocrat´s 36th year in a row of dividend increases.

The next MKC dividend is payable January 10, 2022 to shareholders of record December 31, 2021. A new annual dividend rate of $1.48 per share yields 1.7% to McCormick shareholders at a stock price of $85.82. The ex-dividend date for the increased MKC dividend is December 30, 2021.

Lawrence E. Kurzius, Chairman, President & CEO, said "Our focus on growth is relentless as we continue to drive McCormick forward and further build value for all of our shareholders. We are proud to be a Dividend Aristocrat and remain committed to our long history of returning cash to shareholders. I am delighted to announce another dividend increase."

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. The company's brands include Aeroplane, Billy Bee, Brand Aromatics, Cattlemen's, Club House, Drogheria & Alimentari, Ducros, El Guapo, Frank's Redhot, French's and Giotti. McCormick has paid dividends each year since 1925.