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Before the opening bell on Thursday, Colgate-Palmolive (CL ) reported its fourth quarter financial results, posting higher profits than last year.
CL’s CEO Ian Cook noted: "As we enter 2015, macroeconomic conditions and foreign exchange volatility remain challenging. Despite that, we anticipate another year of solid organic sales growth driven by a full new product pipeline across all categories and geographies. While our long term goal of double-digit annual earnings per share growth remains unchanged, we continue to see significant deterioration in foreign exchange rates. As a result, we are planning for a year of gross margin expansion and low-single-digit earnings per share growth on a dollar basis, based on current spot rates and excluding charges related to the 2012 Restructuring Program. This earnings per share growth would reflect a double-digit increase on a currency neutral basis.”
The company will pay its next 36 cent dividend on February 16. The stock went ex-dividend on January 21. We expect the company to declare its next dividend in March.