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Clorox (CLX) Raises Dividend: What it Means for Investors
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The Clorox Company (CLX - Free Report) has announced an increase in its quarterly dividend, raising it to $1.22 per share from the previous $1.20 per share. This 1.7% hike underscores Clorox's commitment to delivering consistent value to its shareholders through regular dividend increases.
Scheduled to be paid on Aug 30, 2024, to shareholders of record as of Aug 14, 2024, this move marks another milestone in Clorox's long-standing tradition of rewarding its investors with dependable dividends. With this adjustment, Clorox's annualized dividend rate now stands at $4.88 per share, translating to an attractive yield of 3.7% based on the stock price as of July 30.
Clorox's strategy of incremental dividend growth not only bolsters shareholder income but also reinforces investor confidence in the company's financial health and stability. Such shareholder-friendly actions are crucial in attracting long-term investors who prioritize consistent returns. For more than 50 years, Clorox has consistently paid annual dividends to its shareholders.
This announcement precedes Clorox's upcoming fourth-quarter fiscal 2024 results, scheduled for release on Aug 1. Despite ongoing market uncertainties, it remains focused on its strategic initiatives, including robust brand investments and operational efficiencies aimed at sustaining growth and profitability.
Moreover, Clorox's recent divestiture of its Argentina business exemplifies its commitment to optimizing its portfolio and strengthening its core operations. These strategic maneuvers align with its broader IGNITE strategy, which aims to enhance margins and drive sustainable growth through innovation and digital transformation.
While Clorox navigates through current economic challenges and evolving consumer preferences, its proactive approach should position it well for future growth. However, factors such as economic fluctuations and competitive pressures could impact Clorox's performance.
The Zacks Consensus Estimate for fourth-quarter fiscal 2024 revenues is pegged at $1.97 billion, suggesting a decrease of 2.4% from the prior-year quarter’s reported figure. However, we note that the consensus mark for earnings has moved up by a penny to $1.54 per share over the past 30 days.
Shares of this Zacks Rank #3 (Hold) company have declined 5.7% in the past three months, against the industry’s rise of 3.7%.
Image Source: Zacks Investment Research
3 Picks You Can’t Miss
Here, we have highlighted three better-ranked stocks, namely, Vital Farms (VITL - Free Report) , Ollie's Bargain Outlet (OLLI - Free Report) and Colgate-Palmolive (CL - Free Report) .
The Zacks Consensus Estimate for Vital Farms’ current financial-year sales and earnings suggests growth of 24.9% and 66.1%, respectively, from the year-ago reported numbers.
Ollie's Bargain, the extreme-value retailer of brand-name merchandise, currently sports a Zacks Rank #1. OLLI has a trailing four-quarter earnings surprise of 10.4% on average.
The Zacks Consensus Estimate for Ollie's Bargain’s current financial-year sales and earnings indicates a rise of around 8.1% and 12.4%, respectively, from the year-earlier levels.
Colgate-Palmolive, which manufactures and sells consumer products, currently carries a Zacks Rank #2 (Buy). CL delivered an earnings surprise of 4.8% in the trailing four quarters, on average.
The Zacks Consensus Estimate for Colgate-Palmolive’s current fiscal-year sales and earnings suggests growth of 3.5% and nearly 9.9%, respectively, from the year-ago reported numbers.
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Clorox (CLX) Raises Dividend: What it Means for Investors
The Clorox Company (CLX - Free Report) has announced an increase in its quarterly dividend, raising it to $1.22 per share from the previous $1.20 per share. This 1.7% hike underscores Clorox's commitment to delivering consistent value to its shareholders through regular dividend increases.
Scheduled to be paid on Aug 30, 2024, to shareholders of record as of Aug 14, 2024, this move marks another milestone in Clorox's long-standing tradition of rewarding its investors with dependable dividends. With this adjustment, Clorox's annualized dividend rate now stands at $4.88 per share, translating to an attractive yield of 3.7% based on the stock price as of July 30.
Clorox's strategy of incremental dividend growth not only bolsters shareholder income but also reinforces investor confidence in the company's financial health and stability. Such shareholder-friendly actions are crucial in attracting long-term investors who prioritize consistent returns. For more than 50 years, Clorox has consistently paid annual dividends to its shareholders.
This announcement precedes Clorox's upcoming fourth-quarter fiscal 2024 results, scheduled for release on Aug 1. Despite ongoing market uncertainties, it remains focused on its strategic initiatives, including robust brand investments and operational efficiencies aimed at sustaining growth and profitability.
Moreover, Clorox's recent divestiture of its Argentina business exemplifies its commitment to optimizing its portfolio and strengthening its core operations. These strategic maneuvers align with its broader IGNITE strategy, which aims to enhance margins and drive sustainable growth through innovation and digital transformation.
While Clorox navigates through current economic challenges and evolving consumer preferences, its proactive approach should position it well for future growth. However, factors such as economic fluctuations and competitive pressures could impact Clorox's performance.
The Zacks Consensus Estimate for fourth-quarter fiscal 2024 revenues is pegged at $1.97 billion, suggesting a decrease of 2.4% from the prior-year quarter’s reported figure. However, we note that the consensus mark for earnings has moved up by a penny to $1.54 per share over the past 30 days.
Shares of this Zacks Rank #3 (Hold) company have declined 5.7% in the past three months, against the industry’s rise of 3.7%.
Image Source: Zacks Investment Research
3 Picks You Can’t Miss
Here, we have highlighted three better-ranked stocks, namely, Vital Farms (VITL - Free Report) , Ollie's Bargain Outlet (OLLI - Free Report) and Colgate-Palmolive (CL - Free Report) .
Vital Farms offers a range of produced pasture-raised foods. It currently sports a Zacks Rank #1 (Strong Buy). VITL has a trailing four-quarter average earnings surprise of 102.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Vital Farms’ current financial-year sales and earnings suggests growth of 24.9% and 66.1%, respectively, from the year-ago reported numbers.
Ollie's Bargain, the extreme-value retailer of brand-name merchandise, currently sports a Zacks Rank #1. OLLI has a trailing four-quarter earnings surprise of 10.4% on average.
The Zacks Consensus Estimate for Ollie's Bargain’s current financial-year sales and earnings indicates a rise of around 8.1% and 12.4%, respectively, from the year-earlier levels.
Colgate-Palmolive, which manufactures and sells consumer products, currently carries a Zacks Rank #2 (Buy). CL delivered an earnings surprise of 4.8% in the trailing four quarters, on average.
The Zacks Consensus Estimate for Colgate-Palmolive’s current fiscal-year sales and earnings suggests growth of 3.5% and nearly 9.9%, respectively, from the year-ago reported numbers.