Colgate-Palmolive announces dividend pay-outs
NEW YORK Colgate-Palmolive’s board of directors has declared quarterly cash dividends of 40 cents per common share.
The dividends are payable on Nov. 14, 2008, to shareholders of record on Oct. 24, 2008, the company said.
Colgate has paid uninterrupted dividends on its common stock since 1895.
Alberto-Culver obtains Noxema line from P&G
MELROSE PLACE, Ill. Alberto-Culver has completed its acquisition of the worldwide rights and trademarks to the Noxzema skin care brand from Procter & Gamble.
The transaction includes the existing business in the United States, Canada and portions of Latin America. P&G will continue to operate its existing Noxzema shave care, antiperspirant/deodorant, body wash and body soap business in portions of Western Europe.
Alberto-Culver’s portfolio of beauty products includes TRESemme, Alberto V05, Nexxus and St. Ives.
Physicians Formula buys back common stock, evaluates price per share
AZUSA, Calif. Physicians Formula’s board authorized in September the repurchase up to $10 million of the company’s outstanding common stock.
The company had approximately 14,096,227 shares of common stock outstanding as of Aug. 8. In connection with the repurchase program, the company also announced that it has adopted a written trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, to facilitate the repurchase of shares of common stock under the repurchase program.
In addition, the beauty company has entered into an amendment to its existing senior credit agreement with Union Bank of California, N.A. to permit borrowings under the revolving credit facility to fund the repurchase program.
“Our board believes that at the current stock price, our stock is undervalued based on many criteria, including the long-term growth prospects for the company, and that the repurchase program is an effective means to increase shareholder value,” stated Ingrid Jackel, chief executive officer of Physicians Formula. “Our board also believes that we are well positioned to increase long-term shareholder value by growing our business through product innovation and differentiation, and by providing strong support for existing and new products through creative promotional activities.”