Colgate-Palmolive raises dividend to $0.50 per share from $0.48

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Colgate-Palmolive raises dividend to $0.50 per share from $0.48
Credit: © Reuters.

NEW YORK - Colgate-Palmolive Company (NYSE: CL ) announced an increase in its quarterly common stock cash dividend, raising it from $0.48 to $0.50 per share. This change will come into effect in the second quarter of 2024.

The company's Board of Directors declared that the upcoming dividend is scheduled to be paid to shareholders of record as of April 22, 2024, with the payment date set for May 15, 2024. The new annualized dividend rate is now $2.00, up from the previous $1.92 per share.

This decision marks a continuation of Colgate-Palmolive's long-standing practice of sharing profits with its shareholders, having paid uninterrupted dividends since 1895. The adjustment reflects a commitment to providing shareholder value while maintaining its financial strategy.

Colgate-Palmolive is a global company with a portfolio that includes oral care, personal care, home care, and pet nutrition products. Known for its flagship brands such as Colgate (NS: COLG ), Palmolive, and Hill's Prescription Diet, the company operates in over 200 countries and territories.

Beyond its business pursuits, Colgate-Palmolive has also been involved in sustainability initiatives and community wellbeing programs, such as the Colgate Bright Smiles, Bright Futures program, which has reached approximately 1.7 billion children and their families since its inception in 1991.

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