Colgate-Palmolive announces stock split and dividend increase

Colgate-Palmolive's board of directors has approved a series of stock trading actions that reflect the dental products supplier's positive business outlook.

The company has approved a two-for-one split of its common stock, to be effected through a stock dividend, while its ongoing quarterly cash dividend is to be increased by ten percent from the second quarter of 2013.

As a result of the split, shareholders will receive one additional share of Colgate common stock for each share they hold as of the record date of April 23rd 2013.

Meanwhile, the increased quarterly dividend has been calculated on a pre-split basis and comes to $0.68 (46 pence) per share, up from $0.62, bringing the firm's annualised share value to $2.72, or $1.36 post-split.

Ian Cook, Colgate's chairman, president and chief executive officer, said: "Today's actions demonstrate our confidence in the continued strong and profitable growth of Colgate's global business."

This comes after the company reported positive annual sales growth of two percent during the 2012 full-year period, thanks to its strong portfolio and various corporate initiatives.