Ex-Dividend Alert: Clorox has Raised its Dividend Consecutively Since 1977; Will Trade Ex-Dividend on July 31, 2018
LONDON, UK / ACCESSWIRE / July 30, 2018 /
Active-Investors has a free review on The Clorox Co. (NYSE: CLX) following the Company's announcement that it will begin trading ex-dividend on July 31, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on July 30, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on CLX:
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Dividend Declared
On May 21, 2018, Clorox announced that its Board of Directors has declared a quarterly dividend of $0.96 per share on its common stock, payable August 17, 2018, to stockholders of record as of the close of business on August 01, 2018. This reflects the Company's 14% dividend increase that was announced in February 2018 ahead of the typical May announcement timing, due to the benefits of tax reform.
Clorox's indicated dividend represents a yield of 2.95%, which is substantially higher than the average dividend yield of 1.77% for the Consumer Goods sector. Total annual dividends paid to Clorox's shareholders have increased each year since 1977.
Dividend Insights
Clorox has a dividend pay-out ratio of 68.1%, which means that the Company spends approximately $0.68 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount 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.
As per analysts' estimates, Clorox is forecasted to report earnings of 6.37 per share for the next year, which is considerably higher than the Company's annualized dividend payout of $3.84 per share.
At March 31, 2018, Clorox's cash and cash equivalents totaled $1.17 billion compared to $417 million as on June 30, 2017. The Company's fiscal 2018 year-to-date period ended March 31, 2018, net cash from continuing operations increased 19% to $574 million compared to $483 million in the year ago same period. Cash provided by operations decreased $40.6 million due to changes in working capital. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Upcoming Earnings
On June 28, 2018, Clorox announced that it will host a live audio webcast of a discussion with the investment community about its fourth-quarter and fiscal year 2018 results on August 02, 2018. The webcast is scheduled to begin at 1:30 p.m. ET.
About The Clorox Co.
Clorox is a leading multinational manufacturer and marketer of consumer and professional products with approximately 8,700 employees worldwide and fiscal year 2017 sales of $6 billion. Clorox markets some of the most trusted and recognized consumer brand names, including its namesake bleach and cleaning products. More than 80% of the Company's sales are generated from brands that hold the No. 1 or No. 2 market share positions in their categories.
Stock Performance Snapshot
July 27, 2018 - At Friday's closing bell, Clorox's stock marginally rose 0.73%, ending the trading session at $132.72.
Volume traded for the day: 1.52 million shares, which was above the 3-month average volume of 1.38 million shares.
Stock performance in the last month – up 1.60%; and previous three-month period – up 12.18%
After last Friday's close, Clorox's market cap was at $17.21 billion.
Price to Earnings (P/E) ratio was at 24.06.
The stock has a dividend yield of 2.89%.
The stock is part of the Consumer Goods sector, categorized under the Housewares & Accessories industry.
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