Colgate Announces 20% Dividend Increase - Effective 2nd Quarter 2010
February 04 2010 - 1:50PM
Business Wire
Regulatory News:
Reflecting the Company’s positive outlook, the Board of
Directors of Colgate-Palmolive Company today increased the ongoing
quarterly common stock cash dividend by 20%. The increase will be
effective as of the second quarter, 2010. The new rate of $.53 per
share is up from $.44. The Board declared that the second quarter
dividend is to be paid on May 14, 2010 to shareholders of record as
of April 26, 2010. On an annual basis, the new dividend rate is
$2.03 vs. $1.72 per share previously. The Company has paid
uninterrupted dividends on its common stock since 1895.
Share Repurchase Program
The Board of Directors today also authorized a new share
repurchase program. The Company plans to purchase 40 million common
shares over the next two years. The shares may be purchased in the
open-market or privately negotiated transactions. As of December
31, 2009, the Company had approximately 494 million shares of
common stock outstanding.
Ian Cook, Chairman, President and Chief Executive Officer, said:
“This dividend increase, following up on last year's dividend
increase, reflects the Board's confidence in Colgate's momentum and
the Company's ability to generate strong, profitable growth. We are
pleased that our excellent cash generation worldwide will enable us
to maintain our strong balance sheet, fund a higher dividend, and
launch a new share repurchase program.”
About Colgate-Palmolive: Colgate-Palmolive is a leading global
consumer products company, tightly focused on Oral Care, Personal
Care, Home Care and Pet Nutrition. Colgate sells its products in
over 200 countries and territories around the world under such
internationally recognized brand names as Colgate, Palmolive,
Mennen, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, Elmex,
Tom’s of Maine, Ajax, Axion, Soupline, and Suavitel, as well as
Hill's Science Diet and Hill's Prescription Diet. For more
information about Colgate's global business, visit the Company's
web site at http://www.colgate.com.
Cautionary Statement on
Forward-Looking Statements
This press release may contain forward-looking statements. Such
statements may relate, for example, to sales or volume growth,
organic sales growth, profit and profit margin growth, earnings
growth, financial goals, cost-reduction plans, tax rates and new
product introductions. These statements are made on the basis of
our views and assumptions as of this time and we undertake no
obligation to update these statements. We caution investors that
any such forward-looking statements are not guarantees of future
performance and that actual events or results may differ materially
from those statements. Investors should consult the Company's
filings with the Securities and Exchange Commission (including the
information set forth under the captions "Risk Factors" and
"Cautionary Statement on Forward-Looking Statements" in the
Company's Annual Report on Form 10-K for the year ended December
31, 2008) for information about certain factors that could cause
such differences. Copies of these filings may be obtained upon
request from the Company's Investor Relations Department or the
Company's web site at http://www.colgate.com.
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