Balchem hikes dividend by 10.9%

On December 6, 2022, Balchem Corporation (BCPC) announced that it will raise its annual dividend by 10.9 percent to 71 cents per share. This marks the 13th consecutive year of annual dividend increases. The new dividend yield for BCPC is 0.55% at a stock price of $133. The dividend will payable on January 20, 2023 to stockholders of record at the close of business on December 27, 2022. 

Ted Harris, Balchem’s Chairman, President, and CEO, said, “Balchem has a long-standing commitment to an annual dividend and we are pleased to announce the continuation of that commitment. This dividend represents the fourteenth consecutive increase in our annual dividend, reflecting both the consistently outstanding financial performance the company has delivered and the Board’s continued confidence in our long-term strategies.”

Balchem Corporation reports four business segments: Human Nutrition & Health; Animal Nutrition & Health; Specialty Products; and Industrial Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market. The Industrial Products segment manufactures and supplies certain derivative products into industrial applications. Balchem was founded in 1967 and became a publicly traded company in 1970. The company's corporate headquarters are located in New Hampton, New York, along with a broad network of sales offices, manufacturing sites, and R&D centers, primarily across the US and Europe.