International Flavors & Fragrances Lifts Dividend 8%

International Flavors & Fragrances (IFF: 46.395 -0.91%) announced today that the company is lifting their quarterly dividend by 8% to $.27 per share.

 

Following the dividend increase, IFF stock will offer investors a 2.3% yield based on yesterday’s closing price.

 

IFF shares have gained 13% since the beginning of the year, but have fallen 11% in July. Shares were down nearly 1% in mid-morning trading despite the fifth dividend increase in the past six years from International Flavors & Fragrances.

 

“IFF prides itself on its track record of returning cash to shareholders. Over the last five years, we have returned over $1.2 billion through the combination of share repurchases and dividends,” said IFF Chairman and Chief Executive Officer Doug Tough. “Today’s announcement is further evidence of Management’s and the Board’s confidence in our long-term outlook.”

 

The dividend will be payable on October 6, 2010 to shareholders of record as of September 22, 2010.

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