McCormick & Co. (MKC) announced a 10% increase in its quarterly cash dividend today. The new quarterly dividend increases to 22 cents per share versus 20 cents per share in the same quarter last year. The projected payout ratio equals 41% based on November 2008 estimated earnings of $2.11 per share. The historical 5-year average payout ratio equals 38%.
(click on table/chart for larger image)