Coty Inc. Declares Quarterly Dividend
May 08 2019 - 6:30AM
Business Wire
The Board of Directors of Coty Inc. (NYSE:COTY) declared a
quarterly cash dividend of $0.125 per common share, payable on June
28, 2019, to shareholders of record on June 6, 2019. This dividend
will be considered a taxable dividend.
Coty is initiating a stock dividend reinvestment
program giving shareholders the option to
receive their full dividend in cash or to receive their
dividend in 50% cash / 50% common stock. Shareholders will be
able to make this election on a quarterly basis, beginning with the
June 2019 dividend payment, for which the election deadline is
expected to be June 20, 2019. For purposes of determining the
common stock dividend, the number of shares of common stock will be
calculated on the basis of the average share price on the New York
Stock Exchange over the period of five trading days up to and
including June 6, 2019.
About Coty Inc.
Coty is one of the world’s largest beauty companies with over $9
billion in revenue, an iconic portfolio of brands and a purpose to
celebrate and liberate the diversity of consumers’ beauty. We
believe the beauty of humanity lies in the individuality of its
people; beauty is at its best when authentic; and beauty should
make you feel happy, never sad. As the global leader in fragrance,
a strong number two in professional salon hair color & styling,
and number three in color cosmetics, Coty operates three divisions:
Consumer Beauty, which is focused on mass color cosmetics, mass
retail hair coloring and styling products, body care and mass
fragrances with brands such as COVERGIRL, Max Factor, Sally Hansen
and Rimmel; Luxury, which is focused on prestige fragrances and
skincare with brands such as Calvin Klein, Burberry, Marc Jacobs,
Hugo Boss, Gucci and philosophy; and Professional Beauty, which is
focused on servicing salon owners and professionals in both hair
and nail, with brands such as Wella Professionals, Sebastian
Professional, OPI and ghd. Coty has approximately 20,000 colleagues
globally and its products are sold in over 150 countries. Coty and
its brands are committed to a range of social causes as well as
seeking to minimize its impact on the environment.
For additional information about Coty Inc., please visit
www.coty.com.
Forward-Looking Statements
Certain statements in this communication may be “forward-looking
statements” within the meaning of the Private Securities Litigation
Act of 1995. These forward-looking statements reflect Coty Inc.’s
(“Coty”) current views with respect to, among other things, Coty’s
capital allocation strategy and payment of dividends, the election
date for electing stock dividends, the basis of calculating the
equity portion of future dividends, future ability to return cash
to shareholders, and Coty’s ability to support its planned business
operations in the near-term and long-term basis. These statements
are based on certain assumptions and estimates that Coty considers
reasonable and are subject to a number of risks and uncertainties,
many of which are beyond the control of Coty, which could cause
actual events or results to differ materially from such statements,
including: (1) a change in Coty’s capital allocation and cash
management priorities impacting the return of cash to shareholders
and its financial ability to declare dividends on a quarterly
payout schedule or at all, including declaration and payment of
future quarterly dividends for the remainder of the fiscal year
ending June 30, 2019 and in future periods, and the amount of any
such dividend; (2) Coty’s ability to develop and achieve its global
business strategies, compete effectively in the beauty industry and
achieve the benefits contemplated by its strategic initiatives, and
its ability to manage the continued integration of the P&G
Beauty Business and other recent acquisitions with Coty’s business,
operations, systems, financial data and culture and the ability to
realize synergies, avoid future supply chain and other business
disruptions, reduce costs and realize other potential efficiencies
and benefits (including through Coty’s restructuring initiatives),
cash flow and liabilities, each at the levels and costs and within
the expected time frame or at all; (3) restrictions imposed on Coty
through its license agreements, outstanding senior unsecured notes
and credit facilities, including restrictions on Coty’s ability to
pay dividends and changes in the manner in which Coty finances its
debt and future capital needs, including potential acquisitions and
restructuring, capital expenditures, and business realignment and
other costs; (4) global political and/or economic uncertainties and
disruptions or major legal, regulatory or policy changes and/or the
enforcement thereof that affect Coty’s business, financial
performance, operations or products, including the impact of
Brexit; and (5) other factors described from time to time in
documents that Coty files with the U.S. Securities and Exchange
Commission (the “SEC”). More information about these and other
factors is included under the heading “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in Coty’s Quarterly Report on Form 10-Q for
the quarter ended September 30, 2018 and other periodic reports
Coty has filed and may file with the SEC from time to time. All
forward-looking statements made in this communication are qualified
by these cautionary statements. These forward-looking statements
are made only as of the date of this communication, and Coty does
not undertake any obligation, other than as may be required by law,
to update or revise any forward-looking or cautionary statements to
reflect changes in assumptions, the occurrence of events,
unanticipated or otherwise, or changes in future operating results
over time or otherwise.
Notice
This release shall not constitute an offer of securities for
sale pursuant to the stock dividend reinvestment program that is
mentioned.
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Investor
RelationsChristina Frank, +1 212
389-6802christina_frank@cotyinc.comOlga Levinzon, +1 212
389-7733olga_levinzon@cotyinc.comMediaJennifer Friedman, +1 917
754-8399jennifer_friedman@cotyinc.com
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