Colgate-Palmolive (CL) Raises Quarterly Dividend 5.6% to $0.38; Approves $5B Buyback

February 19, 2015 1:50 PM EST

Colgate-Palmolive (NYSE: CL) declared a quarterly dividend of $0.38 per share, or $1.52 annualized. This is a 5.6% increase from the prior dividend of $0.36.

The dividend will be payable on May 15, 2015, to stockholders of record on April 23, 2015, with an ex-dividend date of April 21, 2015.

The annual yield on the dividend is 2.2 percent.

Colgate-Palmolive Company’s Board of Directors today also authorized a new share repurchase program providing for the repurchase of shares of common stock having an aggregate purchase price of up to $5 billion. This program replaces the share repurchase program approved by the Board in September, 2011. The Company currently expects the new program to last three to four years. The shares may be purchased in the open-market or privately negotiated transactions. As of December 31, 2014, the Company had approximately 907 million shares of common stock outstanding.

Ian Cook, Chairman, President and Chief Executive Officer, said: “We are pleased that our strong balance sheet and excellent cash generation worldwide has enabled us to increase the quarterly cash dividend and launch a new share repurchase program.”

For a dividend history and other dividend-related data on Colgate-Palmolive (CL) click here.

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