Dividend Increases: McCormick & Co. and Becton Dickinson

Both McCormick & Co. (MKC) and Becton Dickinson (BDX) announced increases in their quarterly dividends on Tuesday.

McCormick & Co.

McCormick & Co. announced a 9.1% increase in the company's quarterly dividend.

• The new quarterly dividend increases to $0.24 per share versus $0.22 per share in the same period last year.

• The projected dividend payout ratio is approximately 41% based on November 2009 estimated earnings per share of $2.36. This payout compares favorably to the five-year historical payout ratio of 41%.

• MKC carries an S&P Earnings & Dividend Quality Ranking of A+.

Becton Dickinson

Becton Dickinson announced a 15.8% increase in the company's quarterly dividend.

• The new quarterly dividend increases to $0.33 per share versus $0.28.5 per share in the same period last year.

• The projected dividend payout ratio is approximately 27% based on September 2009 estimated earnings per share of $4.88. This payout compares favorably to the five-year historical payout ratio of 26%.

• BDX carries an S&P Earnings & Dividend Quality Ranking of A and is one of S&P's Dividend Aristocrats.

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