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* Colgate-Palmolive increases quarterly dividend to $0.39/share from $0.38/share
* The initiatives under the expanded, previously disclosed Restructuring Program continue to be focused on the following areas:
- Expanding Commercial Hubs, Extending Shared Business Services and Streamlining Global Functions, Optimizing Global Supply Chain and Facilities
- As a result of the expansion, cumulative pretax charges related to the 2012 Restructuring Program, once all phases are approved and implemented, are now estimated to be $1,405 million to $1,585 million ($1,050 million to $1,170 million aftertax), increased from $1,285 million to $1,435 million ($950 million to $1,050 million aftertax). It is now expected that substantially all charges related to the 2012 Restructuring Program will be incurred by December 31, 2017.
- These pretax charges are currently estimated to be comprised of the following: employee-related costs, including severance, pension and other termination benefits (50%); asset-related costs, primarily incremental depreciation and asset impairments (10%); and other charges, which include contract termination costs, consisting primarily of implementation-related charges resulting directly from exit activities (20%) and the implementation of new strategies (20%). Over the course of the Restructuring Program, it is currently estimated that approximately 75% of the charges will result in cash expenditures.
- It is expected that, when it has been fully implemented, the Restructuring Program will have contributed a net reduction of approximately 3,300-3,800 positions from the Company's global employee workforce.