NEW YORK--(BUSINESS WIRE)--Reflecting the Company’s positive outlook, the Board of Directors of Colgate-Palmolive Company (NYSE:CL) today increased the ongoing quarterly common stock cash dividend by 7%. The increase will be effective as of the second quarter, 2012. The new rate of $0.62 per share is up from $0.58. The Board declared that the second quarter dividend is to be paid on May 15, 2012 to shareholders of record as of April 24, 2012. On an annualized basis, the new dividend rate is $2.48 vs. $2.32 per share previously. The Company has paid uninterrupted dividends on its common stock since 1895.
Separately, the Company also announced today that Nikesh Arora, Senior Vice President and Chief Business Officer of Google, Inc. has been elected to Colgate’s Board of Directors effective March 15, 2012.
Mr. Arora, 44, brings extensive international leadership experience and strong knowledge of finance and information technology to the Colgate Board. Mr. Arora has been Senior Vice President and Chief Business Officer of Google, Inc. since January 2011. He has held multiple senior operating leadership roles at Google since 2004, serving as President, Global Sales Operations and Business Development, President, Europe, Middle East and Africa and Vice President, Europe Operations.
Before joining Google, Mr. Arora served as Chief Marketing Officer of the T-Mobile International Division of Deutsche Telekom AG from 2001 to 2004. He was previously Chief Executive Officer and Founder of T-Motion PLC, which merged with T-Mobile International in 2002. Mr. Arora began his career at Fidelity Investments in 1992, holding a variety of finance and technology management positions, ultimately serving as Vice President and Chief Financial Officer of Fidelity Technologies.
A graduate of the Institute of Technology in Varanasi, India, Mr. Arora holds a Master's degree from Boston College and an MBA from Northeastern University. He currently serves as a Director of Bharti Airtel Ltd., a leading Indian telecommunications company.
Colgate also announced that following the recent planned retirement of Vice Chairman Michael Tangney, effective March 1, 2012, Fabian Garcia, Chief Operating Officer, Global Innovation and Growth, & Europe has assumed responsibility for the Company’s Hill’s Pet Nutrition division, and Franck J. Moison, Chief Operating Officer, Emerging Markets has assumed responsibility for Colgate’s South Pacific region.
About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate sells its products in over 200 countries and territories around the world under such internationally recognized brand names as Colgate, Palmolive, Mennen, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, elmex, Tom’s of Maine, Sanex, Ajax, Axion, Soupline, and Suavitel, as well as Hill's Science Diet and Hill's Prescription Diet. For more information about Colgate's global business, visit the Company's web site at http://www.colgatepalmolive.com. To learn more about Colgate’s global oral health education program, Bright Smiles, Bright Futures™, please visit http://www.colgatebsbf.com.