MKC Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
MKC Payout Ratio by year
Yearly range of MKC’s payout ratio from 2016 to 2026. Over the full period it ranged from 36.4% to 102.7%, averaging 54.4%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 43.2% | 51.7% | 60.2% | 43.2% |
| 2025 | 55.2% | 67.8% | 85.0% | 55.2% |
| 2024 | 42.5% | 55.1% | 70.0% | 70.0% |
| 2023 | 43.2% | 63.0% | 88.5% | 43.2% |
| 2022 | 62.1% | 82.6% | 102.7% | 102.7% |
| 2021 | 47.0% | 59.0% | 69.3% | 66.7% |
| 2020 | 37.8% | 41.1% | 44.6% | 41.0% |
| 2019 | 36.4% | 38.7% | 39.6% | 39.6% |
| 2018 | 37.8% | 40.9% | 45.3% | 42.7% |
| 2017 | 39.4% | 47.0% | 50.6% | 39.4% |
| 2016 | 43.4% | 45.7% | 48.1% | 43.4% |
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What fraction of free cash flow is paid out as dividends. More reliable than the earnings-based payout ratio because cash is harder to manipulate through accounting choices. Low ratio = room to grow the dividend and absorb an earnings dip. High ratio = dividend is consuming most of the cash generated.
TTM Dividends Per Share / (TTM FCF ÷ Shares) × 100%A steadily rising FCF payout ratio warrants scrutiny only if FCF itself is flat or falling — that means the company is paying out a larger slice of shrinking cash. A high but stable ratio in a capital-light business (e.g. consumer staples) can be perfectly sustainable.
- FCF can be lumpy: large one-off capex or working-capital swings distort a single year. Look at the multi-year trend rather than any single data point.
- Utilities and REITs naturally sustain 60–90% FCF payout ratios; industrials and tech companies typically run 20–50%. Always compare to sector context.
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