The company's divisions are home care, oral care, personal care and pet nutrition, and its products are sold in more than 200 countries and territories.
There will always be a need to buy soap, toothpaste and other personal-care products, which makes shares of Colgate-Palmolive a compelling investment option.
In addition to its position as a company that offers consumer essentials, Colgate-Palmolive also offers a 2.37% dividend yield and a track record of annual dividend increases for 52 consecutive years.
That payout ratio record is one that few other companies can beat, and it speaks volumes about the financial ability of the company to pay its shareholders every year without fail.
With operating cash flow of more than $3 billion in just the past 12 months, Colgate-Palmolive can continue to pay rich dividends for the long term.
This could offer investors an alternative at a time when banks offer meager interest.