03/07/2013 Format Document for Printing
Colgate Announces 2-For-1 Stock Split and 10% Dividend Increase Effective 2nd Quarter 2013
NEW YORK--(BUSINESS WIRE)--
Reflecting the Company's positive outlook, the Board of Directors of
Colgate-Palmolive Company (NYSE:CL) today approved a two-for-one split
of the Company's common stock to be effected through a stock dividend
and increased the ongoing quarterly cash dividend by 10%, both effective
in second quarter 2013 as described below.
Ian Cook, Colgate's Chairman, President and Chief Executive Officer,
said, "Colgate finished 2012 with excellent growth momentum worldwide,
driven by broad new product success. Today's actions demonstrate our
confidence in the continued strong and profitable growth of Colgate's
The record date for the two-for-one split is the close of business on
April 23, 2013, with share distribution scheduled for May 15, 2013. As a
result of the split, shareholders will receive one additional share of
Colgate common stock, par value $1.00, for each share they hold as of
the record date. Total shares outstanding will increase from
approximately 468 million to 936 million.
The higher quarterly dividend of $0.68 per share on a pre-split basis,
up from $0.62, is to be paid May 15, 2013 to shareholders of record as
of April 23, 2013. On an annualized basis, the new rate is $2.72 per
share (or $1.36 after giving effect to the split).
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, Speed Stick, Lady Speed Stick,
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 Bright Smiles, Bright Futures® oral health
education program, please visit http://www.colgatebsbf.com.
Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements relating to
expectations of continued growth. These statements are made on the basis
of our views and assumptions as of this time and we undertake no
obligation to update these statements. We caution investors that any
such forward-looking statements are not guarantees of future performance
and that actual events or results may differ materially from those
statements. Investors should consult the Company's filings with the
Securities and Exchange Commission (including the information set forth
under the caption "Risk Factors" in the Company's Annual Report on Form
10-K for the year ended December 31, 2012) for information about certain
factors that could cause such differences. Copies of these filings may
be obtained upon request from the Company's Investor Relations
Department or on the Company's web site at http://www.colgatepalmolive.com.
Bina Thompson, 212-310-3072
News Provided by Acquire Media