Kimberly-Clark raises dividend for 46th consecutive year
The quarterly dividend will be increased to $1.00 per share, up more than 3 percent from last year. This marks the 46th consecutive annual increase in the company's dividend. The first dividend will be payable on April 3, 2018 to stockholders of record on March 9, 2018.
Chairman and Chief Executive Officer Thomas J. Falk said, "In 2017, we delivered bottom-line growth in a challenging environment. We also achieved all-time record FORCE cost savings of $450 million and reduced discretionary spending to help offset inflationary cost headwinds. In addition, we returned $2.3 billion to shareholders through dividends and share repurchases."
Last year Kimberly-Clark raised its dividend for the 45th consecutive year. The stock has lost 2.3 percent year-to-date and offers a 3.3% dividend yield at a current stock price of $117.84.
Out of 16 analysts only 3 rate KMB a 'buy', with 11 'holds' and 2 professionals recommending 'sell'. The average analyst price target for the company is $120.93 (a 2.6 percent upside from today's close).
Kimberly-Clark and its well-known global brands are an indispensable part of life for people in more than 175 countries. Every day, nearly a quarter of the world's population trust K-C brands and the solutions they provide to enhance their health, hygiene and well-being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds No. 1 or No. 2 share positions in 80 countries.
