Dividend Aristocrat Colgate-Palmolive (CL) will raise its quarterly dividend by 2.3 percent to $0.45 per share in 2021, matching last year's 2.3 percent hike. Last year the consumer products company also hiked its dividend by 2.3 percent, marking the 57th consecutive year of dividend increases.
The increased dividend be paid on May 14, 2021 to shareholders of record as of April 21, 2021. On an annualized basis, the new dividend rate is $1.80 versus $1.76 per share previously. This translates into an estimated yield of 2.4% at a stock price of $75.51 for Colgate.
Colgate-Palmolive Company (Colgate) is a global consumer products company. Colgate operates in two product segments: Oral, Personal and Home Care; and Pet Nutrition. The company's products include toothpaste, toothbrushes, mouthwashes, soap, shower gels, deodorants, dishwashing liquids and pharmaceutical products for dentists and other oral health professionals. The Pet Nutrition segment markets specialty pet nutrition products for dogs and cats. The company’s brands include 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. Colgate was founded in 1806 and incorporated under the laws of the State of Delaware in 1923. The company has paid uninterrupted dividends on its common stock since 1895.