The Clorox Company Increases Dividend, Maintaining Streak Of 43 Years Alive
Dividend Aristocrat The Clorox company (NYSE: CLX) will remain a member of the Exclusive Dividend Club, having voted to increase its dividend for the 43rd consecutive year. Shareholders on July 29 will receive a quarterly dividend of $ 1.11 on August 14. The payment is a 5% increase.
Clorox can comfortably make this decision, as many of its products remain in high demand due to the COVID-19 pandemic. And this strong demand is showing in a new way today. The company is in partnership with United Airlines (NASDAQ: UAL) to keep hub airports sanitized.
Profitable and sought after
The dividend aristocrats are a select group of companies that have paid no-fault quarterly dividends and increased the payout every year for at least 25 years. Miss a payout or a raise, and you’re out of the club. By increasing its dividend, Clorox continues its momentum.
Coronavirus Creates Strong Demand for Clorox’s basic consumption products, and customers include everyone from individuals to airlines. United Airlines will use Clorox products to disinfect boarding gates and terminals initially only at Chicago and Denver airports, before expanding at a later date. For United Airlines, he hopes the partnership with a domestic-branded cleaning product will boost customer confidence to resume flights.
Clorox sales increased 15% in the third quarter of fiscal 2020 as consumers turned to disinfectant products. This led to an impressive 31% increase in quarterly net income per share.
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