Colgate Palmolive Co Stock Price, News & Analysis

Colgate-Palmolive Company (NYSE:CL) will host its 2021 Annual Meeting of Stockholders on May 7, 2021, at 10:00 a.m. ET in a virtual format. The meeting will be led by Noel Wallace, Chairman, President, and CEO. Investors can access the live webcast starting at 9:30 a.m. ET at www.virtualshareholdermeeting.com/CL2021. A recorded version will be available on the company's website approximately 24 hours post-meeting.

Colgate-Palmolive Company (NYSE:CL) will host a live webcast of its first quarter earnings conference call on April 30, 2021, at 8:30 a.m. ET. The call will feature Chairman, President, and CEO, Noel Wallace, alongside Chief Investor Relations Officer, John Faucher. Investors can access the webcast on Colgate's website, with a recorded version available later for those unable to participate live. The company is recognized for its innovative growth in Oral Care, Personal Care, Home Care, and Pet Nutrition, serving over 200 countries and territories.

Colgate-Palmolive and Philips have initiated a long-term collaboration aimed at enhancing oral care with electric toothbrushes across select Latin American countries. This partnership combines Colgate's strong market presence and relationships with dental professionals, along with Philips' cutting-edge technology in sonic toothbrushes. The co-branded portfolio, titled Philips Colgate, will offer a variety of electric toothbrushes at different price points, targeting the low usage of such devices in a region where oral hygiene practices are prevalent.

Cresco Labs reported remarkable financial results for 2020, with revenue soaring to $476.3 million, a 271% increase year-over-year. The company excelled as the leading wholesaler of branded cannabis products, benefiting from significant cultivation expansions in Illinois and Pennsylvania. Adjusted EBITDA rose to $116.0 million, reflecting strong operational efficiency. In Q4 2020, revenue was $162.3 million, a 6% quarter-over-quarter increase. The company also secured a $200 million senior secured term loan and successfully completed a $125 million share offering to enhance its financial flexibility.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) announced its definitive agreement to acquire Cultivate Licensing LLC and BL Real Estate LLC for up to US$158 million, including an upfront payment of US$90 million and an earnout of up to US$68 million. This acquisition is expected to enhance Cresco's market position in Massachusetts, a key cannabis market projected to exceed $1 billion. The deal aims to bolster Cresco's leadership in a rapidly growing industry, with operational synergies expected from Cultivate's established presence and premium product offerings.

The Board of Directors of Colgate-Palmolive Company (NYSE:CL) has announced an increase in the quarterly dividend to $0.45 per share from $0.44, effective in Q2 2021. The new dividend will be paid on May 14, 2021 to shareholders of record by April 21, 2021. This raises the annualized dividend to $1.80 from $1.76. Colgate-Palmolive has consistently paid dividends since 1895, underscoring its commitment to returning value to shareholders.

Colgate-Palmolive Company has appointed Kimberly A. Nelson, former Senior Vice President at General Mills, to its Board of Directors, effective immediately. Nelson brings significant expertise in sustainability and social responsibility, having spent nearly 30 years at General Mills, including leadership in various roles. Concurrently, Dr. Helene D. Gayle will retire from the Board effective May 7, 2021, after over a decade of contributions, particularly in governance and corporate responsibility. Colgate expresses gratitude for Gayle's service while welcoming Nelson's capabilities.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) announced the expiration of the waiting period under the Hart-Scott-Rodino Act regarding its acquisition of Bluma Wellness Inc. (CSE: BWEL.U) (OTCQX:BMWLF). The absence of a second request from the DOJ indicates a favorable outcome for the Transaction, expected to close in Q2 2021, pending final approvals. CEO Charles Bachtell expressed optimism about collaborating with Bluma to enhance Cresco's presence in the Florida market.