Clorox Co. (CLX) declared a quarterly dividend of $1.11 per share on the company's common stock, up 5% from the previous $1.06 per share dividend. Shares in the maker of bleach and disinfecting wipes appreciated 2.4% to $206.51 in pre-market U.S. trading.The dividend is payable on Aug. 14 to stockholders of record as of the close of business on July 29."We are pleased to raise our dividend by 5%, building on nearly 20 consecutive years of dividend increases," said Clorox Chairman and CEO Benno Dorer. "As we continue to deliver healthy cash flows, our ongoing priority is to invest in business growth behind our IGNITE strategy. We also remain committed to returning cash to stockholders."Clorox has a long history of paying regular dividend increases. This also marks its 51st consecutive year Clorox has paid an annual dividend ever since it became independent again following a decade of ownership by another company.Shares in Clorox have leaped 32% so far this year driven by ample demand for its disinfecting products during the coronavirus pandemic.TipRanks data shows that Wall Street analysts are sidelined on the stock. The Hold consensus is based on 5 Holds, 3 Sells and 2 Buys. On the back of this year’s rally, it is not too surprising that the $182.10 average price target by analysts foresees 9.7% downside potential in the shares in the coming 12 months. (See Clorox stock analysis on TipRanks).Related News: Facebook Rolls Out Online Shopping Platform for Business Unclear If President Trump Will Wear Mask At Ford’s Repurposed Factory Tour 3M Sues Vendors Over False N95 Respirators More recent articles from Smarter Analyst: * PhaseBio Explodes 82% After-Hours On FDA Nod For Covid-19 Clinical Trial * Google Pay App May Face Anti-Trust Probe In India – Report * Trump Threatens Twitter After It Labels His Tweets "Potentially Misleading" * General Electric Surges 8% Amid Sale Of Lighting Unit To Savant
The Zacks Analyst Blog Highlights: The Clorox Company, MGP Ingredients, Middlesex Water, Baidu and Alibaba
Is (CLX) Outperforming Other Consumer Staples Stocks This Year?
Dividend announcements were mixed this past week for large companies, reflecting the divergent capital-allocation policies as companies try to preserve their cash during the coronavirus pandemic.
Clorox (CLX) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
United will use sneeze guards at check-in counters and hand out wipes; JetBlue will block middle seats on Airbus planes.
While data shows only a small fraction of recent flights were more than 70% full, there may soon be full or near-full planes, said Airlines for America, a trade group representing major U.S. airlines. Major airlines have mandated face coverings for travelers and are taking a layered approach to safety. JetBlue will continue blocking some seats on its aircraft through at least July 6 while checking crew members' temperatures and stepping up aircraft cleaning with electrostatic aircraft fogging.
Clorox (CLX) gives investors another reason to cheer by raising its dividend for the 51st consecutive quarter. Its IGNITE strategy and strong demand place it well for further growth.
To restore confidence among fliers in the current scenario, United Airlines (UAL) launches United CleanPlus program.
Fresh clashes between the two powerful economies amid the pandemic have triggered investors to turn to safe bets, again.
Clorox (NYSE: CLX) stock has enjoyed an unexpected surge thanks to the COVID-19 pandemic. As panic set in related to the contagion, consumers cleared stores of consumer staples, and stocks like Clorox benefited. Due to these factors, Clorox has no obvious catalyst for another leg higher.
Two very different companies found their shares climbing together as the crisis deepened. But what will happen as cooped-up people emerge?
Higher profits come from increased demand, and now even United Airlines is clamoring for Clorox's products.
Companies In The News Are: MRNA, FB, CLX, RCL.
The number of global cases of the coronavirus that causes COVID-19 rose to 4.9 million on Wednesday and Brazil suffered its worst fatalities since the start of the outbreak, prompting President Donald Trump to say he may bar entry to flights from Brazil.
Hedge funds have relied on technology, internet, media and telecom companies and increasingly more health care companies to drive performance.
These are the consumer staples stocks with the best value, fastest growth, and most momentum for June.
The airline and maker of disinfectant and sanitizing products, along with Cleveland Clinic, have launched United CleanPlus.
Chubb, Clorox, Flower Foods, Medtronic and Northrop Grumman have all recently raised their dividends Continue reading...
These stocks are perfect for retirement income because the companies have reliable track records of dividend payouts.