Avon Products, Inc.
announced a 6% increase in its regular quarterly dividend. The new dividend rate will be $.175 per common share, up from $.165 per share, beginning with the first-quarter dividend payable March 1, 2006, to shareholders of record February 14, 2006. On an annualized basis, the new indicated dividend rate would increase to $.70 per share from $.66 per share.
Avon also announced that it has completed its five-year $1 billion share repurchase program, approved in 2000, as well as the incremental $500 million share repurchase initiative launched August 2, 2005. In total, the company spent $728 million to repurchase shares in 2005. Avon currently has a five-year $1 billion share repurchase program in place, approved in 2005.