McCormick Declares $0.34 Quarterly Dividend And Announces New Share Repurchase Authorization

McCormick Declares $0.34 Quarterly Dividend And Announces New Share Repurchase
                                Authorization

PR Newswire

SPARKS, Md., April 3, 2013

SPARKS, Md., April 3, 2013 /PRNewswire/ --The Board of Directors of McCormick
& Company, Incorporated (NYSE: MKC) today declared a quarterly dividend of
$0.34 per share on its common stock payable April 29, 2013 to shareholders of
record on April 15, 2013. This is the 89^th year of consecutive dividend
payments by the Company.

The Board of Directors also authorized a new share repurchase program. Under
the new program, McCormick is authorized to purchase up to $400 million of its
outstanding shares. In 2013, the company expects to complete the current $400
million share repurchase program which was authorized in June 2010.

Alan D. Wilson, Chairman, President & CEO said: "In the past five years, we
have returned nearly $1 billion of cash to our shareholders through dividends
and share repurchases. Today's announcement reflects our outlook for
continued profit growth and our commitment to deliver value to McCormick
shareholders."

Forward-looking Information

Certain information contained in this release, including statements concerning
expected performance such as those relating to net sales, earnings, cost
savings, acquisitions and brand marketing support, are "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange Act
of 1934. These statements may be identified by the use of words such as
"may," "will," "expect," "should," "anticipate," "believe" and "plan." These
statements may relate to: the expected results of operations of businesses
acquired by us, the expected impact of raw material costs and our pricing
actions on our results of operations and gross margins, the expected
productivity and working capital improvements, expected trends in net sales
and earnings performance and other financial measures, the expectations of
pension and postretirement plan contributions, the holding period and market
risks associated with financial instruments, the impact of foreign exchange
fluctuations, the adequacy of internally generated funds and existing sources
of liquidity, such as the availability of bank financing, our ability to issue
additional debt or equity securities and our expectations regarding purchasing
shares of our common stock under the existing authorizations.

These and other forward-looking statements are based on management's current
views and assumptions and involve risks and uncertainties that could
significantly affect expected results. Results may be materially affected by
external factors such as damage to our reputation or brand name, business
interruptions due to natural disasters or similar unexpected events, actions
of competitors, customer relationships and financial condition, the ability to
achieve expected cost savings and margin improvements, the successful
acquisition and integration of new businesses, fluctuations in the cost and
availability of raw and packaging materials, changes in regulatory
requirements, and global economic conditions generally which would include the
availability of financing, interest, inflation rates and investment return on
retirement plan assets, as well as foreign currency fluctuations, risks
associated with our information technology systems, the threat of data
breaches or cyber attacks, and other risks described in the company's filings
with the Securities and Exchange Commission.

Actual results could differ materially from those projected in the
forward-looking statements. The company undertakes no obligation to update or
revise publicly, any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by law.

About McCormick

McCormick & Company, Incorporated is a global leader in flavor. With $4
billion in annual sales, the Company manufactures, markets and distributes
spices, seasoning mixes, condiments and other flavorful products to the entire
food industry – retail outlets, food manufacturers and foodservice businesses.

Every day, no matter where or what you eat, you can enjoy food flavored by
McCormick. McCormick Brings Passion to Flavor™.

To learn more please visit us at www.mccormickcorporation.com.

For information contact:
Investor Relations:
Joyce Brooks (410) 771-7244 or joyce_brooks@mccormick.com

Corporate Communications:
Lori Robinson (410) 527-6004 or lori _robinson@mccormick.com

SOURCE McCormick & Company, Incorporated

Website: http://www.mccormickcorporation.com
 
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