International Flavors & Fragrances Inc.
), just a week before reporting its second quarter 2013 results,
announced increase in its quarterly dividend rate by 5 cents or
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The revision has been approved by the board of directors of
International Flavors & Fragrances. The new quarterly
dividend rate now stands at 39 cents, up from earlier rate of 34
cents. The annual rate now comes in at $1.56 per share.
The new dividend will be paid on Oct 10, 2013 to shareholders of
record on Sep 26, 2013. This increase marks the company's twelfth
consecutive increase in the quarterly dividend rate since 2003.
International Flavors & Fragrances has over time remained
committed on rewarding their shareholders through quarterly
dividend payments, garnished with attractive increases, and share
Earlier in Jul 2012, International Flavors & Fragrances had
announced 3 cents or 9.7% increase in its quarterly dividend
International Flavors & Fragrances Inc. is slated to release
its second quarter 2013 financial results on Aug 6, 2013. The
Zacks Consensus Estimate for the quarter currently is at $1.18
while estimates for years 2013 and 2014 are at $4.46 and $4.87,
respectively. These estimates represent year-over-year growth of
9.6% for the second quarter 2013 and growth of 12.1% and 9.1% for
2013 and 2014, respectively.
International Flavors & Fragrances currently has a $6.5
billion market capitalization. The stock currently carries a
Zacks Rank #3 (Hold).
Other stocks to watch out in the industry are
Inter Parfums Inc.
Nu Skin Enterprises Inc.
), each with a Zacks Rank #1 (Strong Buy) while
Cytec Industries Inc.
) carries a Zacks Rank #2 (Buy).