Colgate pays 13% dividend

MUMBAI, August 12: Colgate-Palmolive (India) has declared a final dividend of 13 per cent for the year ended March 1997. The company will b...

MUMBAI, August 12: Colgate-Palmolive (India) has declared a final dividend of 13 per cent for the year ended March 1997. The company will bear a tax burden of Rs 1.77 crore on the proposed final dividend.

The company had earlier paid two interim dividends of 16 per cent each, thereby making the total dividend to 45 per cent for the year.

During the year, sales turnover (net of excise) increased by 16.5 per cent to Rs 904.54 crore as against Rs 776.51 crore in the previous year. The net profit increased marginally to Rs 78.93 crore from Rs 76.30 crore last year.

The company said despite steps to exploit market opportunities by focusing on quality, product innovation and efficient management of resources, net profit was impacted by absorption of around Rs 10 crore on excise paid inventories.

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