McCormick (MKC) engages in the manufacture, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. This dividend champion has rewarded shareholders with a dividend increase for 28 years in a row.
Over the past decade, earnings per share have increased by 9.20% per year, while dividends were raised by 11.40% per year.
Currently, the stock is trading at 22.70 times earnings and yields a very sustainable 2.30%. I initiated a small position in the company at the beginning of the month during the dip, in order to be able to better monitor the progress. Check my analysis of McCormick for more information.