Church & Dwight boosts dividend by 21 percent
Church & Dwight Co. Inc. said Thursday its board of directors approved a 21 percent increase in its regular quarterly dividend to 17 cents a share, up from 14 cents.
The maker of Nair and Arm & Hammer will pay the dividend on Sept. 1 to shareholders of record on Aug. 16.
The announcement came as the company reported a 28 percent rise in second-quarter net income but said its margins were hurt by heightened competition and increasing spending on promotions.
Shares of Church & Dwight fell $2.81, or 4.3 percent, to $62.72 in morning trading Thursday.