Skip to main content

Alberto-Culver (ACV) - Get AllianzGI Diversified Income & Convertible Fund Report matched fourth-quarter targets and set a special $25-a-share dividend as part of a plan to split in two.

The Melrose Park, Ill., beauty products company made $66 million, or 70 cents a share, for the quarter ended Sept. 30, up from the year-ago $59 million, or 63 cents a share. Revenue rose to $974 million from $901 million a year earlier.

The company said it will spend $2.4 billion to pay shareholders the $25-a-share special dividend this quarter in place of its regular 13-cent quarterly dividend. Alberto-Culver said shareholders will end up owning both the company and its Sally/BSG distribution unit, which is to be spun off as a separate publicly traded company. Latest-quarter numbers included 4 cents a share worth of charges tied to the separation plan.

TheStreet Recommends