The company’s CEO 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 global business.
The record date for the stock split is April 30th and shares are scheduled to be distributed on May 15th. The total of shares outstanding will rise from approximately 468 million to 936 million.
The company’s quarterly dividend will rise from $0.62 to $0.68 on a pre-split basis. The current dividend yield of 2.1% will rise to around 2.35% on a pre-split basis. On a split-adjusted basis, the new dividend will be $1.36 per share.
Shares of Colgate-Palmolive are up about 2% in premarket trading this morning, at $117.50, a new 52-week high if it holds. The current 52-week range is $92.50 to $116.17. The consensus target price is around $113.60, so look for some changes here as well.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
