McCormick (NYSE:MKC) is preparing the ground for its upcoming earnings release by declaring its latest quarterly dividend. The company will hand out $0.34 per share on July 22 to shareholders of record as of July 8. That amount matches both of the firm's previous two distributions, the most recent of which was dispensed at the end of April. Prior to that, McCormick paid $0.31 per share.
In the press release announcing the upcoming distribution, the company pointed out that this is the 89th year in a row it has paid quarterly dividends.
The just-declared disbursement annualizes to $1.36 per share. That yields 1.9% at McCormick's most recent closing stock price of $72.03.
The firm will unveil its Q2 results tomorrow morning.
Fool contributor Eric Volkman has no position in McCormick. The Motley Fool recommends McCormick. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.