L’OREAL BOARD SEEKS HIKE IN DIVIDEND
PARIS — L’Oreal SA’s board of directors will propose a 21 percent increase in net dividends per share, to $3.28, at the annual shareholders’ meeting today.
Shareholders also will vote on a 10-for-1 stock split, effective after the June 15 payment of dividends, to increase the liquidity of company shares.
Dollar figures have been converted at current exchange.
The company, which had a 12.1 percent sales increase last year to $10.78 billion, expects it “will be channeling substantial investments” into an increased Internet presence in the year ahead.
Its consumer products division launched the Le Club des Createurs de Beaute e-commerce Web site at Ccb-paris.com in the U.S., France and Germany. A Lancome Web site, Lancome.com, was initiated in the U.S. by L’Oreal’s luxury products division.