Colgate Announces its 60th Consecutive Annual Dividend Increase and New $5 Billion Share Repurchase Program

Rhea-AI Summary

Colgate-Palmolive Company (NYSE:CL) has declared a quarterly cash dividend of $0.47 per share, representing a $0.02 increase. This dividend is payable on May 13, 2022, for shareholders on record as of April 21, 2022. The company also announced a new share repurchase program with an aggregate value of up to $5 billion, replacing its previous program from 2018. The repurchase will commence after March 10, 2022. Colgate-Palmolive continues its long history of returning cash to shareholders, having paid uninterrupted dividends since 1895.

Positive

• Quarterly dividend increased by $0.02 to $0.47 per share, enhancing shareholder value.
• New $5 billion share repurchase program reflects confidence in future stock performance.
• Continued commitment to returning cash to shareholders, uninterrupted since 1895.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of Colgate-Palmolive Company (NYSE:CL) today declared a quarterly common stock cash dividend of $0.47 per share, an increase of $0.02, payable on May 13, 2022 to shareholders of record on April 21, 2022. The Company has paid uninterrupted dividends on its common stock since 1895.

The Board of Directors today also authorized the repurchase of shares of the Company's common stock having an aggregate purchase price of up to $5 billion under a new share repurchase program, which replaced the Company's previous $5 billion share repurchase program authorized in 2018. Repurchases under the new program will be made from time to time in open market or privately negotiated transactions at the Company's discretion and in accordance with requirements of the Securities and Exchange Commission (SEC). The Company will commence the repurchase of shares of the Company's common stock under the new program after March 10, 2022. As of January 31, 2022, the Company had approximately 840 million shares of common stock outstanding.

This dividend and the new share repurchase program reflect a continuation of the Company's long history of consistently returning cash to shareholders.

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About Colgate-Palmolive

Colgate-Palmolive Company is a caring, innovative growth company reimagining a healthier future for all people, their pets and our planet. Focused on Oral Care, Personal Care, Home Care and Pet Nutrition, we sell our products in more than 200 countries and territories under brands such as Colgate, Palmolive, elmex, hello, meridol, Sorriso, Tom's of Maine, EltaMD, Filorga, Irish Spring, PCA SKIN, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill's Science Diet and Hill's Prescription Diet. We are recognized for our leadership and innovation in promoting sustainability and community wellbeing, including our achievements in decreasing plastic waste and promoting recyclability, saving water, conserving natural resources and improving children's oral health through the Colgate Bright Smiles, Bright Futures program, which has reached more than 1.4 billion children since 1991. For more information about Colgate's global business and how we are building a future to smile about, visit www.colgatepalmolive.com. CL-D

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements (as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995 or by the SEC in its rules, regulations and releases) that set forth anticipated results based on management's current plans and assumptions. These statements are made on the basis of the Company's views and assumptions as of this time and the Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, except as required by law or by the rules and regulations of the SEC. Moreover, the Company does not nor does any other person assume responsibility for the accuracy and completeness of these statements. The Company cautions 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. For more information about factors that could impact the Company's business and cause actual results to differ materially from forward-looking statements, investors should refer to the Company's filings with the SEC (including, but not limited to, the information set forth under the captions "Risk Factors" and "Cautionary Statement on Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent Quarterly Reports on Form 10-Q). Copies of these filings may be obtained upon request from the Company's Investor Relations Department or on the Company's website at http://www.colgatepalmolive.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005931/en/

John Faucher 212-310-3653

Hope Spiller 212-310-2291

Source: Colgate-Palmolive Company

FAQ

What is the recent dividend announced by Colgate-Palmolive (CL)?

Colgate-Palmolive has declared a quarterly dividend of $0.47 per share, an increase of $0.02.

When is the dividend payable for Colgate-Palmolive (CL)?

The dividend is payable on May 13, 2022, to shareholders of record on April 21, 2022.

What is the amount of the new share repurchase program for Colgate-Palmolive (CL)?

The new share repurchase program is authorized for up to $5 billion.

When will Colgate-Palmolive (CL) begin its new share repurchase program?

The repurchase program will commence after March 10, 2022.

How long has Colgate-Palmolive (CL) been paying dividends?

Colgate-Palmolive has paid uninterrupted dividends since 1895.