The Estée Lauder Companies Inc. (NYSE: EL) announced today that its Board of Directors increased the annual dividend on the Company’s Class A and Class B Common Stock to $1.05 per share. The dividend amount represents a 40% increase over the previous annual rate of $.75 per share that was paid in December 2010. The $1.05 per share annual dividend will be payable on December 14, 2011 to stockholders of record at the close of business on November 28, 2011.
The Board of Directors also declared a two-for-one common stock split to be effected in the form of a stock dividend. The additional shares will be issued on January 20, 2012 to stockholders of record on January 4, 2012. As of October 25, 2011, approximately 192.6 million shares of the Company’s common stock were outstanding.
William P. Lauder, Executive Chairman, said, “Substantially increasing the dividend and declaring a stock split demonstrates the confidence that the Board of Directors has in our strategy and continued optimistic outlook for the long-term growth of our Company. We are pleased that we continue to realize our objective of increasing stockholder value.”
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble
Michael Kors, American Beauty, Flirt!, GoodSkin Labs, Grassroots Research Labs, Sean John, Missoni, Tom Ford, Coach, Ojon, Smashbox and Ermenegildo Zegna.
The forward-looking statements in this press release, such as those in quotation, involve risks and uncertainties. Factors that could cause actual results to differ from those statements are contained in the Company’s filings with the SEC, including those detailed in the “forward-looking statements” section of the Company’s report on Form 10-K for the year ended June 30, 2011.