March 7 Colgate-Palmolive Co said it is
planning a two-for-one stock split and a 10 percent increase in
its dividend,i as the toothpaste maker believes it still has
strong growth potential with its new products and a continued
Even before Thursday's announcement, shares of Colgate had
risen more than 10 percent this year. The shares rose to $116.50
in premarket trading Thursday from Wednesday's closing price of
$115.35 on the New York Stock Exchange.
The record date for the stock split is the close of business
on April 23, with shares set to be distributed on May 15. The
number of shares outstanding will increase from about 468
million to 936 million.
The new quarterly payout of 68 cents per share on a
pre-split basis, up from 62 cents previously, will be paid on
May 15 to shareholders of record as of April 23, Colgate said.