Colgate-Palmolive Raises Dividend, Announces New $5 Billion Share Repurchase Plan

By Stephen Nakrosis

Colgate-Palmolive Co. on Thursday said its board increased the company's quarterly dividend by 2 cents a share and authorized a $5 billion share repurchase program.

The new dividend of 47 cents per share will be payable on May 13 to shareholders of record on April 21, the company said. The company also said it has paid uninterrupted dividends on its common stock since 1895.

Colgate-Palmolive also said Thursday its board authorized the new share repurchase program, replacing a previous $5 billion share repurchase program authorized in 2018. Repurchase of shares under the new program will begin after March 10.

Colgate-Palmolive has a market cap of $63.67 billion, 842.85 million shares outstanding and a public float of 841.53 million shares.

The stock finished the day's regular session with a 2.25% loss, closing at $73.84 per share.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

March 10, 2022 17:06 ET (22:06 GMT)

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