03/08/2012 Format Document for Printing
Colgate Announces 7% Dividend Increase Effective 2nd Quarter 2012 and Elects Nikesh Arora to Board of Directors
NEW YORK--(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.
Bina Thompson, 212-310-3072
Source: Colgate-Palmolive Company
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