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Coty's board ups dividend by 82% and transitions to quarterly dividend systems.

M2 EQUITYBITES-December 12, 2016-Coty's board ups dividend by 82% and transitions to quarterly dividend systems

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Beauty company Coty Inc (NYSE:COTY) announced on Friday the approval by its board of directors of a transition to a quarterly dividend payout schedule effective immediately.

Also, the board approved Coty's first quarterly dividend of USD0.125 per share of common stock, which represents an expected total dividend of USD0.50 per share of common stock per annum. This is reportedly an 82% increase in Coty's per annum dividend.

Coty's first quarterly dividend is payable on 28 December 2016 to shareholders of record at the close of business on 19 December 2016.

According to the company, this increase in its dividend and the transition of the timing to a quarterly payout schedule, enhances its s ability to return cash to shareholders throughout the year.

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Publication:M2 EquityBites (EQB)
Date:Dec 12, 2016
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