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2 Large-Cap Companies Declare Dividends

Two large-cap companies, who are long-term payers, declared quarterly dividends on Wednesday.

The companies also outperform both the S&P 500 index and more than half of their peers in terms of dividend yield.

Shares of Bristol-Myers Squibb Co. (NYSE:BMY) rose 0.18% to $49.33 in extended trading on Wednesday after the drugmaker announced the quarterly dividend. On Nov. 1, it will pay 41 cents per common share to shareholders of record as of Oct. 4. The ex-dividend date is Oct. 3. The payment is in line with the previous distribution.

Based on Wednesday's closing price, the distribution produces a forward dividend yield of 2.38% versus the industry median of 2.29% and the S&P 500's yield of 1.87%.

Colgate-Palmolive beats 469 out of a total of 931 companies operating in the consumer packaged goods industry in terms of a higher forward dividend yield.

The household and personal products company has continuously paid dividends since Feb. 15, 1986.

The trailing 12-month dividend per share grew 1.1% on average every year over the past five years.

The stock price has climbed 23% year to date to close at $72.85 on Wednesday, outperforming the S&P 500 by 3.3%. The 52-week range is $57.41 to $76.41.

The stock has a market capitalization of $62.51 billion and a price-sales ratio of 4.09.

According to the Peter Lynch chart, the stock is not cheap.

Disclosure: I have no positions in any securities mentioned.

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This article first appeared on GuruFocus.