Today, we’re looking at one of our favorite types of investments…
Longtime readers know we love investing in “World Dominating Dividend Growers.” These are businesses that stand at the top of their industries. They have powerful brands, fortress-like balance sheets, and they consistently raise their dividends. Today’s company is a perfect example…
McCormick (MKC) is a global leader in spices and condiments. It reaches consumers in more than 170 countries and boasts popular brands such as Old Bay, Frank’s RedHot, and French’s. McCormick’s products have been kitchen must-haves since 1889 – and that means consistent profits… The company recently reported record sales growth in 2021, with sales up 13% from 2020 to $6.3 billion. It also raised its quarterly dividend for the 36th consecutive year.
As you can see, MKC is up roughly 120% over the past five years (including dividends), recently hitting a new 52-week high. Back in March 2020, the Stansberry Portfolio Solutions team recommended the stock in The Forever Portfolio… And subscribers who followed their advice are up more than 60% since then. Congrats to the team on a great call!
McCormick capitalizes on the demand for flavor (5-year chart)
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Source: Daily Wealth’s Market Notes