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Kimberly-Clark Continues to Return Capital to Shareholders With 6.5% Dividend Hike

Kimberly-Clark Corporation (KMB) is a leading consumer products organization with a brand portfolio that includes household names like Kleenex and Huggies. The company’s products are sold in more than 175 countries with a No. 1 or No. 2 share position in approximately 80 countries around the world.

The company generated 49% of its revenue from Personal Care, 36% of its revenue from Consumer Tissue, 15% of revenue from K-C Professional and the remainder from other sources during the fourth quarter of 2020.

Tissue Segment Drives Q4 Growth

Kimberly-Clark reported fourth-quarter revenue that rose by 5.7% to $4.84 billion, beating consensus estimates by $110 million, with non-GAAP earnings of $1.69 per share, beating consensus estimates by seven cents. Not surprisingly, Consumer Tissue drove better-than-expected growth with a 14% year-over-year increase in revenue.

Management expects to see a 4 to 6% improvement in sales during FY2021, which is higher than the 2.84% improvement that analysts expected. Adjusted earnings growth is also projected to be higher than analysts were expecting at $7.75 to $8.00 per share.

The company raised its quarterly dividend by 6.5% to $1.14 per share, which represents a 3.5% forward yield. The dividend is payable on April 5, 2021 to shareholders on record as of March 5, 2021.

The company also authorized a new $5 billion share repurchase program that supplements that current $5 billion authorization expected to be completed later this year.

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