International Flavors & Fragrances hikes dividend by 2.5%

International Flavors & Fragrances (IFF) will raise its quarterly dividend by 2.5% to 81 cents per share. The new dividend yield for IFF is 3.1% at a stock price of $104. The company has now raised its dividend 20 consecutive years.

International Flavors & Fragrances Inc. creates, manufactures and supplies flavors and fragrances for the food, beverage, personal care, and household products industries. The company operates through three segments: Taste, Frutarom (acquired in 2018) and Scent. Its products are sold to manufacturers of perfumes and cosmetics, hair and other personal care products, soaps and detergents, meat and other processed foods, beverages, snacks and savory foods, sweet and baked goods, and pharmaceutical and oral care products, among others. International Flavors & Fragrances has key basic research and development centers in Tilburg, the Netherlands, Neuilly and Grasse, France, and Nanjing, China. The company has been paying a dividend to shareholders since at least 1982.