DALLAS - Kimberly-Clark Corporation (NYSE:KMB), a leading global producer of essential consumer products, has announced the continuation of its long-standing dividend payment tradition. The company's board of directors declared a regular quarterly dividend of $1.22 per share, which is scheduled to be paid in cash on July 2, 2024, to stockholders of record as of June 7, 2024.
This latest dividend marks a significant milestone for Kimberly-Clark, showcasing its financial stability and commitment to shareholder returns. It is the 90th consecutive year that the company has paid dividends to its shareholders and the 52nd year in a row that it has increased the dividend amount.
Kimberly-Clark's portfolio includes a variety of well-known household brands such as Huggies, Kleenex, and Scott, which hold leading market positions in approximately 70 countries. The company's focus on sustainable practices and community support is part of its broader strategy to ensure long-term business viability.
The company has also been recognized for its ethical business practices and innovation, having been named one of the World's Most Ethical Companies by Ethisphere for five consecutive years and one of Fortune's Most Innovative Companies in America in 2024.
InvestingPro Insights
Kimberly-Clark Corporation (NYSE:KMB) continues to highlight its financial resilience and appeal to income-focused investors. According to InvestingPro data, the company's market capitalization stands at a robust $45.94 billion, underscoring its significant presence in the consumer goods sector. With a forward Price-to-Earnings (P/E) ratio of 19.41, it suggests that investors are willing to pay a premium for the company's earnings stability and potential growth. This P/E ratio aligns with the company's track record of profitability, as reflected in its recent performance, with a gross profit margin of 35.4% over the last twelve months as of Q1 2024.
Adding to the company's investment attractiveness, Kimberly-Clark boasts a dividend yield of 3.58%, which is particularly noteworthy in today's investment landscape. This yield is supported by a dividend growth of 3.39% over the last twelve months as of Q1 2024, reinforcing the company's commitment to providing shareholder returns.
Investors interested in the stock should consider two key InvestingPro Tips. Firstly, Kimberly-Clark has raised its dividend for 51 consecutive years, a testament to its financial health and disciplined capital allocation. Secondly, 10 analysts have revised their earnings upwards for the upcoming period, indicating potential optimism about the company's future performance. For those seeking additional insights, there are 9 more InvestingPro Tips available at https://www.investing.com/pro/KMB, including an analysis of the stock's volatility and debt levels.
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