Coty Inc. declares quarterly dividend #2
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The Board of Directors of Coty Inc. (NYSE: COTY) declared a quarterly cash dividend of $0.125 per common share, payable on September 14, 2017, to shareholders of record on September 1, 2017.
About Coty Inc.
Coty is one of the world’s largest beauty companies with approximately $9 billion in pro forma revenue, with a purpose to celebrate and liberate the diversity of consumers’ beauty. Its strong entrepreneurial heritage has created an iconic portfolio of leading beauty brands. Coty is 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 and Rimmel; Luxury, which is focused on prestige fragrances and skincare with brands such as Calvin Klein, 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 over 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.
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, 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:
- a change in Coty’s capital allocation strategy, including M&A activity, 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, 2018, and the amount of any such dividend;
- Coty’s ability to achieve its global business strategies, compete effectively in the beauty industry and achieve the benefits contemplated by its strategic transactions, including its ability to manage cash flow, liabilities and any disruptions in its operations and realize synergies, reduce costs and achieve other potential efficiencies and benefits from its joint ventures and recent acquisitions, including from the integration from The Procter & Gamble Company’s global fine fragrances, salon professional, cosmetics and retail hair business, each within the expected time frame or at all;
- restrictions imposed on Coty through its license agreements 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;
- global political and/or economic uncertainties and disruptions, including the impact of Brexit and the new U.S. administration; and
- 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 fiscal quarter ended March 31, 2017 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.
For more information contact :
Kevin Monaco, +1 212 389 6815
Jennifer Friedman, +1 212 389 7175