Colgate-Palmolive Raises Dividend By 4%, Increase To Be Effective In Q2
Portfolio Pulse from Nabaparna Bhattacharya
Colgate-Palmolive Company (NYSE:CL) announced a 4% increase in its quarterly common stock cash dividend to 50 cents per share, effective in Q2 2024. The dividend will be paid on May 15, 2024, to shareholders of record as of April 22. The annualized dividend rate is now $2.00, up from $1.92. In January, Colgate projected FY24 net sales growth of 1%-4%, including a slight negative impact from foreign exchange, and organic sales growth of 3%-5%. The company also expects non-GAAP gross profit margin expansion, increased advertising investment, and mid to high-single-digit EPS growth. CL shares closed down 0.95% at $88.35 on Thursday.
March 15, 2024 | 11:50 am
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POSITIVE IMPACT
Colgate-Palmolive announced a 4% increase in its quarterly dividend to $0.50 per share, effective Q2 2024, with an annualized rate of $2.00. The company also expects FY24 net sales growth of 1%-4% and organic sales growth of 3%-5%.
The increase in dividend is a positive signal to investors, indicating confidence in the company's financial health and future prospects. The projected sales growth and organic sales growth within the targeted range further support a positive outlook. However, the slight decrease in share price on the announcement day suggests that the market may have already anticipated this move or is reacting to other factors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100