Clorox (CLX) Raises Quarterly Dividend 14.3% to $0.96; 3% Yield

Clorox (NYSE: CLX) declared a quarterly dividend of $0.96 per share, or $3.84 annualized. This is a 14.3% increase from the prior dividend of $0.84.

The dividend will be payable on May 11, 2018, to stockholders of record on April 25, 2018, with an ex-dividend date of April 24, 2018.

The annual yield on the dividend is 3 percent.

"We've been looking forward to putting tax reform benefits to work, with an emphasis on supporting long-term business growth and rewarding our shareholders," said Chairman and CEO Benno Dorer. "We're very pleased to accelerate our dividend announcement, which reflects a 14 percent increase in our quarterly dividend."

As communicated in the company's second-quarter earnings release, the recent passage of the Tax Cuts and Jobs Act is expected to provide significant, ongoing benefits to Clorox's earnings and cash flows. As a result, Clorox has raised its 2020 Strategy long-term aspiration for free cash flow1, as a percentage of sales, to 11 to 13 percent, versus its previous aspiration of 10 to 12 percent.

Chief Financial Officer Steve Robb added, "Consistent with our disciplined approach to cash allocation, shareholders remain a priority, and we're pleased to be in a position to continue to return excess cash to them."

For a dividend history and other dividend-related data on Clorox (CLX) click here.

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