News & Events
The Company’s press releases are archived in this section for investors and others to access.
|The Estée Lauder Companies Inc. Board Announces 37% Dividend Increase and Transition to Quarterly Dividend Payout|
Authorizes Additional Shares for Repurchase
The Company also announced that it will transition to a quarterly
dividend payout schedule on its common stock beginning in calendar year
2013. This change will allow the Company to better manage its cash flow
and deliver value to stockholders throughout the year. The Company
expects the first quarterly dividend of
Additionally, the Company’s Board of Directors authorized the repurchase of up to another 40 million shares of Class A Common Stock, or about 10% of the total outstanding common stock. This increases the total authorization to 216 million shares, of which approximately 164 million have been repurchased to date. The Company has a total of approximately 387 million common shares outstanding.
Repurchases are made from time to time in the open market or in private transactions, and there is no specific time frame. The repurchased shares are held as treasury shares and may be used for general corporate purposes, including employee share incentive programs. Cash on hand or borrowings will be used to fund the purchases.
The forward-looking statements in this press release involve risks and
uncertainties. Factors that could cause actual results to differ from
those statements are contained in the Company’s filings with the
An electronic version of this release can be found at the Company’s website, www.elcompanies.com.
Source: The Estée
The Estée Lauder Companies Inc.