Article: Colgate-Palmolive declares dividend.

NEW YORK, Oct. 12 /PRNewswire/ -- Colgate-Palmolive's board of directors has unanimously declared a dividend distribution of one common stock right on each outstanding share of Colgate-Palmolive common stock, it was announced today.

Each right will entitle stockholders to buy one-half share of Colgate-Palmolive common stock at an exercise price of $37.50. The rights will only be exercisable in the event that someone acquires 20 percent or more of Colgate-Palmolive common stock or makes a tender offer for 30 percent or more of the common stock.

The rights are designed to permit Colgate-Palmolive stockholders to benefit from the long-term value of the ...

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