Despite Disappointing Earnings, This Dividend Aristocrat Is a Buy

Despite Disappointing Earnings, This Dividend Aristocrat Is a Buy

McCormick observed that reported sales included a single percentage point impact from foreign currency translation; on an organic basis, revenue rose just over 2%.. Flavor solutions sales in the Americas region advanced by 3%, while EMEA sales improved by 2%.. McCormick presented its fiscal 2020 outlook on Tuesday, which anticipates year-over-year revenue growth of 2% to 4%.. Management cited two factors for the thin bottom-line growth outlook: an impact of three percentage points from a higher estimated tax rate in 2020, and an impact of seven percentage points from "incremental business transformation expenses.". McCormick has decreased its debt load from $5.4 billion following the acquisition to $4.3 billion at the end of Q4 2019.. The Dividend Aristocrat recently raised its quarterly payout by 9%, marking its 34th consecutive year of dividend increases.. Despite Disappointing Earnings, This Dividend Aristocrat Is a Buy @themotleyfool #stocks $MKC $RBGLY.