Dividend Coverage: This Consumer Products Maker has Consistently Paid Dividend Since 1895; Will Trade Ex-Dividend on July 14, 2017
LONDON, UK / ACCESSWIRE / July 13, 2017 / Pro-Trader Daily takes a closer look at Colgate-Palmolive Co. (NYSE: CL) as the Company's stock will begin trading ex-dividend on July 14, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior to the ex-dividend date that is by latest the end of trading session on July 13, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On June 08th, 2017, Colgate-Palmolive's Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on August 15, 2017, to shareholders of record on July 18, 2017.
Colgate-Palmolive's indicated dividend represents a yield of 2.21%, which is substantially higher compared to the average dividend yield of 1.74% for the Consumer Goods sector. The Company has paid uninterrupted dividends on its common stock since 1895 and has increased dividend for 53 consecutive years.
Dividend Insights
Colgate-Palmolive has a dividend payout ratio of 54.8%, which indicates that the Company distributes approximately $0.55 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Colgate-Palmolive is forecasted to report earnings of $3.17 in the coming year, which is almost double of the Company's annualized dividend of $1.60.
As on March 31, 2017, Colgate-Palmolive's cash and cash equivalents totaled $1.35 billion, while the Company's current assets were approximately $4.03 billion. The strong financial position provides a cushion for the Company to absorb any fluctuations in earnings and pay its dividend without interruption.
About the Company
Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home Care, and Pet Nutrition. Colgate sells its products in over 200 countries and territories around the world under such internationally recognized brand names as Colgate, Palmolive, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, elmex, Tom's of Maine, Sanex, Ajax, Axion, Soupline, and Suavitel as well as Hill's Science Diet, Hill's Prescription Diet, and Hill's Ideal Balance.
Recent Development for Colgate-Palmolive
On July 05, 2017, Colgate-Palmolive announced that it will provide a live webcast of its 2017 second quarter earnings conference call on July 21, 2017, at 11:00 a.m. ET. The call will be hosted by Chairman, President, and CEO, Ian Cook, and Senior Vice President-Investor Relations, John Faucher.
Stock Performance
At the closing bell, on Wednesday, July 12, 2017, Colgate-Palmolive's stock slightly fell 0.17%, ending the trading session at $72.28. A total volume of 2.19 million shares has exchanged hands. The stock is trading at a PE ratio of 26.14 and has a dividend yield of 2.21%. The stock currently has a market cap of $64.11 billion.
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