WASHINGTON (dpa-AFX) - McCormick & Company, Incorporated (MKC) announced the company's long-term financial outlook is for annual growth of 4% to 6% in sales, 7% to 9% in operating income and 9% to 11% in earnings per share. The company expects to generate strong cash flow and to continue to return a significant portion of that cash to its shareholders.
Lawrence Kurzius, President & CEO, said: 'With our strong record of increased dividends, McCormick shareholders should expect a double-digit increase in total shareholder return, which through our latest fiscal year, we have achieved for the past 1-, 5-, 10- and 20-year periods.'
The company plans to generate $400 million of cost savings over the next four years.
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