Kimberly-Clark declared a regular quarterly dividend of 60 cents per share, payable on January 5, 2010, to stockholders of record on December 4, 2009.
Kimberly Clark reported net income rose 37% to $1.40 per share compared to an adjusted $1.02 per share in the year-ago period, surpassing by far analyst expectations of $1.13 per share. Adjusted quarterly net sales of $4.9 billion, down 1.7%, as the adverse effect of foreign exchange more than offset organic sales growth of 3%.
KMB announced an agreement to acquire I-Flow, a company which develops, manufactures, and markets technically advanced, low-cost ambulatory infusion systems.
KMB reported second quarter sales declines in all its business segments except Health Care. Quarterly net sales decreased 5.6% to $4.73 billion from $5.01 billion last year.
KMB declared a regular quarterly dividend of 60 cents per share, payable on Oct 2, 2009 to holders of record on Sept 4, 2009.
Deutsche Bank analyst Bill Schmitz Jr. said market share is "still in relatively decent shape." CEO Tom Falk had previously suggested the company was losing market share as consumers trade down with the economic recession.
KMB acquired Jackson Products, adding to its product offering welding safety products such as protective eyewear, welding helmets and other welding safety tools under the Jackson Safety brand name. Financial terms of the deal were not disclosed.
The award recognizes the company's efforts to increase energy efficiency and reduce greenhouse gas emissions. K-C estiamtes it increased its energy efficiency by 3.2% in 2008 over 2007.
KMB approved a quarterly dividend increase of 3.4%, from 58 cents to 60 cents per share. The dividend will be payable on April 2, 2009. This is the 37th consecutive year KMB has raised its dividend.
Kimberly-Clark reported for the first time that it has made the EPA's top 50 list of the largest green power Fortune 500 companies.
Amid falling sales volumes and the stronger dollar, KMB reported 2008 Q4 revenues fell 8.1%. The company said 2009 results would fall below expectations.
KMB's revenue grew by 8% during the quarter, which was mainly due to price increases in response to rising commodities prices. These higher commodities prices, primarily raw materials like paper pulp and fuel costs, increased KMB's cost of goods sold to $250 million-its highest ever. The company's higher expenses led to a 9% decrease in net income during the quarter, with further declines expected in Q4.
Although KMB exhibited sales growth across all of its main segments, rising oil, natural gas, and transportation costs ate away at the bottom line, throwing second quarter 2008 earnings off of expectations.
Kimberly-Clark posted its Q12008 earnings and net sales of $4.8 billion, a quarter record for the paper product company, fuel by 22% sales growth in emerging markets.
After a lackluster few weeks, Kimberly-Clark announced a new innovation: the electronic toilet paper dispenser.
Kimberly-Clark continued layoffs into the next phase at its mill in Neenah, WI. Cut-backs will help the company increase profit, and the stock responded accordingly.
Kimberly-Clark was charged with being involved in coupon fraud, sending prices down nearly $2 per share.
