OAKLAND, Calif. – The Clorox Company (NYSE: NYSE:CLX), a global manufacturer of consumer and professional products, has announced a quarterly dividend of $1.22 per share on its common stock. This dividend is scheduled to be paid on February 14, 2025, to shareholders who are on record by the close of business on January 29, 2025.
The company, known for its commitment to shareholder value, has a history of consistent dividend payments and annual increases. Clorox's portfolio of products includes a variety of well-known household names such as Brita, Burt's Bees, and Pine-Sol, among others. With its headquarters in Oakland, California, since 1913, Clorox has been recognized for integrating environmental, social, and governance (ESG) factors into its business practices. In 2024, Clorox earned the distinction of being named the No. 1 Most Sustainable Company by Barron's for the second year in a row.
The declaration of the dividend follows Clorox's pattern of providing returns to its investors and reflects the company's financial health and outlook. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and Clorox's consistent dividend payments underscore its stable financial position.
While the dividend announcement is a sign of Clorox's current performance, investors typically look at a range of factors, including overall company strategy, product performance, and market conditions, to assess the company's long-term value. Clorox's recognition for sustainability practices also adds to its reputation as a responsible corporate citizen in the eyes of some investors.
The information in this article is based on a press release statement from The Clorox Company. It is intended to provide shareholders and the market with the latest dividend information without offering an assessment of the company's market position, future prospects, or the potential impact of the dividend on its stock performance.
In other recent news, Clorox has been the subject of significant attention from analysts following its impressive first-quarter earnings for fiscal year 2025. The company outperformed expectations, reporting a substantial earnings per share (EPS) beat and a robust 31% growth in organic sales. This positive performance comes as a recovery from a previous year's quarter, which was negatively affected by a cyberattack.
Analysts from TD Cowen, DA Davidson, and Jefferies have all adjusted their stance on Clorox. TD Cowen upgraded the stock from Sell to Hold, citing a conservative fiscal year 2025 guidance and a stronger recovery following the cyber-attack. DA Davidson increased Clorox's price target to $171.00 from $153.00, keeping a Neutral rating on the stock. Jefferies maintained a Buy rating on the stock, raising the share price target slightly to $188 from $187.
Despite the strong first quarter, Clorox projects a low-teens sales decrease for the second quarter due to volume pull-forward. However, for the second half of the year, the company anticipates organic growth to be between 3% to 5%. The company's promotional environment has returned to pre-COVID levels, with strategic promotional spending planned.
These are recent developments and further updates are expected in the future. As Clorox navigates the competitive landscape, analysts continue to reassess the company's value and prospects based on its financial results and strategic positioning.
InvestingPro Insights
Clorox's recent dividend announcement aligns with its long-standing commitment to shareholder value, as evidenced by InvestingPro data. The company boasts an impressive track record, having raised its dividend for 48 consecutive years and maintained payments for 54 years straight. This consistency underscores Clorox's financial stability and dedication to returning value to shareholders.
Currently, Clorox offers a dividend yield of 2.89%, which may be attractive to income-focused investors. The company's ability to sustain and grow its dividend is supported by its profitability over the last twelve months and expectations of net income growth this year.
InvestingPro Tips highlight that Clorox is trading near its 52-week high, with a significant price uptick of 26.73% over the last six months. This performance suggests strong market confidence in the company's prospects. However, investors should note that the stock's RSI indicates it may be in overbought territory, which could signal a potential short-term price correction.
Clorox's financial health appears robust, with the company operating with a moderate level of debt. This prudent financial management aligns with its consistent dividend policy and supports its ability to navigate market challenges.
For investors seeking a deeper understanding of Clorox's financial position and future prospects, InvestingPro offers 13 additional tips, providing a comprehensive analysis to inform investment decisions.
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