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Consumer staples stocks are valued for their non-cyclical nature and defensive characteristics, ensuring consistent cash flows that support sustained dividend growth. This makes them especially attractive to income-focused investors. Here, we highlight three such companies—General Mills, McCormick & Company, and Mondelez International—each boasting a strong history of maintaining and growing their dividends.
General Mills
General Mills, Inc. (NYSE:GIS) manufactures and markets branded consumer foods globally. The company offers a variety of products such as cereals, yogurt, soups, snacks, and pet foods under well-known brands like Annie’s, Cheerios, Betty Crocker, Blue Buffalo, Häagen-Dazs, and Yoplait.
General Mills has paid dividends without interruption for 124 years. In June 2023, it announced a 9.3% increase in its quarterly dividend to $0.59 per share, or $2.36 annually, yielding 3.56%.
The company has consistently beaten EPS estimates for the last nine quarters. Over the last twelve months, the company reported $20.17 billion in revenue and $2.55 billion in net income.
McCormick & Company
McCormick & Company (NYSE:MKC) produces and distributes spices, seasoning mixes, condiments, and other flavorful products. It operates in two segments: Consumer and Flavor Solutions, offering products to both individual consumers and multinational food manufacturers. Popular brands include McCormick, French’s, Frank’s RedHot, OLD BAY, and Cholula.
McCormick has raised its dividend for 38 consecutive years. In November 2023, it announced a 7.7% increase in its quarterly dividend to $0.42 per share, or $1.68 annually, yielding 2.42%.
Over the last twelve months, McCormick generated $6.7 billion in revenue and $707.5 million in net income.
Mondelez International
Mondelez International, Inc. (NASDAQ:MDLZ) manufactures and markets snack food and beverage products worldwide. Its product range includes biscuits, baked snacks, chocolates, gums, and candies, with brands such as Oreo, Ritz, Cadbury Dairy Milk, and Toblerone.
Mondelez has maintained dividend payments for 24 consecutive years and raised them for 10 years. The company pays a quarterly dividend of $0.425 per share, or $1.70 annually, yielding 2.57%.
Over the last twelve months, Mondelez reported $36.14 billion in revenue and $4.29 billion in net income.
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