Colgate Announces 7% Dividend Increase Effective 2nd Quarter 2012 and Elects Nikesh Arora to Board of Directors
March 08 2012 - 1:29PM
Business Wire
Reflecting the Company’s positive outlook, the Board of
Directors of Colgate-Palmolive Company (NYSE:CL) today increased
the ongoing quarterly common stock cash dividend by 7%. The
increase will be effective as of the second quarter, 2012. The new
rate of $0.62 per share is up from $0.58. The Board declared that
the second quarter dividend is to be paid on May 15, 2012 to
shareholders of record as of April 24, 2012. On an annualized
basis, the new dividend rate is $2.48 vs. $2.32 per share
previously. The Company has paid uninterrupted dividends on its
common stock since 1895.
Separately, the Company also announced today that Nikesh Arora,
Senior Vice President and Chief Business Officer of Google, Inc.
has been elected to Colgate’s Board of Directors effective March
15, 2012.
Mr. Arora, 44, brings extensive international leadership
experience and strong knowledge of finance and information
technology to the Colgate Board. Mr. Arora has been Senior Vice
President and Chief Business Officer of Google, Inc. since January
2011. He has held multiple senior operating leadership roles at
Google since 2004, serving as President, Global Sales Operations
and Business Development, President, Europe, Middle East and Africa
and Vice President, Europe Operations.
Before joining Google, Mr. Arora served as Chief Marketing
Officer of the T-Mobile International Division of Deutsche Telekom
AG from 2001 to 2004. He was previously Chief Executive Officer and
Founder of T-Motion PLC, which merged with T-Mobile International
in 2002. Mr. Arora began his career at Fidelity Investments in
1992, holding a variety of finance and technology management
positions, ultimately serving as Vice President and Chief Financial
Officer of Fidelity Technologies.
A graduate of the Institute of Technology in Varanasi, India,
Mr. Arora holds a Master's degree from Boston College and an MBA
from Northeastern University. He currently serves as a Director of
Bharti Airtel Ltd., a leading Indian telecommunications
company.
Colgate also announced that following the recent planned
retirement of Vice Chairman Michael Tangney, effective March 1,
2012, Fabian Garcia, Chief Operating Officer, Global Innovation and
Growth, & Europe has assumed responsibility for the Company’s
Hill’s Pet Nutrition division, and Franck J. Moison, Chief
Operating Officer, Emerging Markets has assumed responsibility for
Colgate’s South Pacific region.
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, Sanex, 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.colgatepalmolive.com. To learn more about
Colgate’s global oral health education program, Bright Smiles,
Bright Futures™, please visit http://www.colgatebsbf.com.
CL-D, CL-C
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