Higher Prices Help Colgate-Palmolive Earnings

Recent Posts:

• Say Goodbye to Windows Live Messenger
• Hurricane Sandy to Keep Wall Street Closed a Second Day
• Dish Could Lose Gannett Broadcasting
• View All Posts

Shares of Colgate-Palmolive (NYSE:CL), one of InvestorPlace‘s Dependable Dividends Stocks, jumped over 3% Thursday morning on reports of the company’s solid second quarter.

Thanks to a 5% increase in volume and an almost 4% increase in prices, the company was able to see profits increase as well, despite rising commodity costs. Colgate-Palmolive reported $627 million in profit, or $1.30 a share, up from $622 million, or $1.26 a share, a year earlier.

Revenue also rose 2% to $4.27 billion, while sales excluding foreign exchange, acquisitions and divestments increased 8% — the largest jump in eight quarters.

CL has been paying a dividend since 1895 and has a yield of 2.4%. Shares of the company are up 14% since January and 21% over the past year.

-Alyssa Oursler, InvestorPlace Editorial Assistant