Summary
Colgate-Palmolive Company (CL) announced on December 1, 2005, that its Board of Directors has authorized the extension of its existing share repurchase program. The program, initially announced in October 2004, allows for the repurchase of up to 20 million shares of common stock and will now continue through March 31, 2006. This extension signals the company's continued commitment to returning value to shareholders through share buybacks. As of November 30, 2005, approximately 3.49 million shares remained available for repurchase under the current authorization. The company also indicated its intention to implement a new stock repurchase program in the first quarter of 2006, which will commence upon the conclusion of the extended program. This forward-looking statement suggests a sustained strategy of capital allocation towards share repurchases.
Key Highlights
- 1Colgate-Palmolive's Board of Directors authorized the extension of its share repurchase program.
- 2The share repurchase program is extended through March 31, 2006.
- 3The original program, announced in October 2004, authorized the repurchase of up to 20 million shares.
- 4As of November 30, 2005, 3,493,783 shares were still available for repurchase under the existing program.
- 5The company expects to implement a new stock repurchase program in Q1 2006, to begin after the current one concludes.
- 6The extension and planned new program indicate a continued focus on returning capital to shareholders.
- 7This filing was made on December 1, 2005, and the earliest event reported was November 30, 2005.