Colgate Hikes Dividend
The Board of Directors of New York-based Colgate-Palmolive Co. (NYSE: CL – $74.26) said it increased the quarterly common stock dividend by 3%, effective in the second quarter of 2017. The new rate of $.40 per share is up from $.39 per share. The Board declared that the second quarter dividend is to be paid on May 15, 2017 to shareholders of record as of April 21, 2017. On an annualized basis, the new dividend rate is $1.60 versus $1.56 per share previously and will yield investors 2.15% at current quotations. The Company has paid uninterrupted dividends on its common stock since 1895 and, despite currency exchange headwinds, the shares of the global oral care and household products company can continue to be held in a well-diversified conservative account.