Colgate to increase dividend in second quarter
16 February 2010 00:00 in Dental Supplier News
Colgate is to increase its ongoing quarterly common stock cash dividend by 20 per cent in the second quarter of the year.
The oral care and healthcare specialist is increasing the rate of its shares to 53 cents (34 pence) in a move which it says reflects its "positive outlook" on its future financial prospects.
It will also be conducting a new share repurchase programme over the next two years, which the firm forecasts will see it acquire around 40 million common shares.
Ian Cook, chairman, president and chief executive officer of Colgate, stated that these schemes are indicative of its confidence that "strong, profitable growth" is forthcoming for the firm.
He added: "We are pleased that our excellent cash generation worldwide will enable us to maintain our strong balance sheet, fund a higher dividend and launch a new share repurchase programme."
This comes after Colgate last month published its financial report for 2009, during which the company exceeded its own expectations in terms of net income and operating profit increases.
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