Colgate-Palmolive Authorized To Buy Back Up To $5 Bln Of Shares; Raises Quarterly Dividend

(RTTNews) - Consumer products company Colgate-Palmolive Co. (CL) said it has been authorized to repurchase up to $5 billion of shares. It also decided to pay an enhanced quarterly dividend.

The repurchase of shares of its common stock under the new program will take place after March 20. As of January 31, 2025, Colgate-Palmolive has around 812 million shares of common stock outstanding.

"This dividend increase and the new share repurchase program reflect a continuation of the Company's long history of consistently returning cash to shareholders," the company said in a statement.

Colgate-Palmolive raised the quarterly common stock cash dividend to $0.52 per share from $0.50. The increase will come into effect from the second quarter of 2025. The second quarter dividend will be paid on May 15 to shareholders of record as of April 17.

The company added that on an annual basis, the dividend rate has increased to $2.08 per share from the earlier $2.00.