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Article: Colgate-Palmolive declares dividend.
- Article from:
- PR Newswire
- Article date:
- October 12, 1984
CopyrightCOPYRIGHT 1984 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...