Church & Dwight Declares Quarterly Dividend, Announces Two-for-one Stock Split

(RTTNews) - While reporting its second-quarter financial results today, Church & Dwight Co., Inc. (CHD), a household, personal care and specialty products company, said its board of directors approved a regular quarterly dividend of thirty-five and a half cents, or $0.355 per share.

Additionally, the board also approved a two-for-one stock split of the company's common stock, payable in the form of a stock dividend.

The quarterly cash dividend and the stock dividend will both be payable on September 1, 2016 to stockholders of record at the close of business on August 15, 2016.

In addition to the quarterly cash dividend on a pre-split basis, stockholders will receive one additional share of common stock for each share of common stock they own. The company noted that the New York Stock Exchange is expected to begin reporting the adjusted number of shares outstanding and the split-adjusted per-share stock price on September 2, 2016.

The split will increase Church & Dwight's total shares outstanding from approximately 129 million shares to approximately 258 million shares.

Looking ahead to the third quarter, Church & Dwight forecast reported earnings of $0.92, which equates to a 2 percent increase over the prior quarter.

For fiscal 2016, the company now expect 14 percent to 15 percent reported and 8 percent to 9 percent adjusted earnings per share growth. The company continues to expect full-year reported and organic sales growth of approximately 3 to 4 percent.

Earlier, the company expected 7 to 9 percent adjusted earnings per share growth for the year.