Health and beauty products provider Avon Products (NYSE:AVP) will pay a regular quarterly dividend of $0.06 on June 3 to shareholders of record at the close of business on May 14. That's the same amount it declared in February and November.
It has paid a quarterly dividend consistently since 2000, but was forced to cut its payout last year after profits fell 81% in the third quarter. The quarterly dividend at the time had been $0.23, so the lowered payout (to $0.06) represented a near-75% cut.
Avon is a leading global beauty company with nearly $11 billion in annual revenue. Its products are sold through more than 6 million active independent sales representatives in more than 100 countries.
The most recent dividend payment equates to a $0.24-per-share annual dividend yielding 3.3% based on the closing price of Avon's stock on April 29.
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