By Katherine Hamilton
Balchem Corp. will raise its annual dividend by 10.1%, which the company said reflects strong financial performance.
The food manufacturer said Tuesday it will boost its dividend to 87 cents per share, up from last year's dividend of 79 cents a share. The dividend will be paid Jan. 17.
The new payout represents an annual yield of nearly 0.5%, based on the Tuesday closing price of $175.39.
Balchem last raised its dividend a year ago, to 79 cents from 71 cents.
This year will be Balchem's 16th consecutive year increasing its annual dividend, the company said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 10, 2024 17:31 ET (22:31 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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