Benzinga | Dec 1, 2021 07:54AM EST

McCormick Hikes Dividend By 8.8%

* McCormick & Co (NYSE:MKC) Board of Directors declared an 8.8% increase in the quarterly dividend from $0.34 to $0.37 per share on its common stock.

* The dividend is payable on January 10, 2022, to shareholders of record on December 31, 2021.

* The company held $312.6 million in cash and equivalents as of August 31, 2021.

* Price Action: MKC shares closed lower by 1.34% at $85.82 on Tuesday.