Consumer products company Colgate-Palmolive Co. said Thursday that its board hiked its quarterly cash dividend by 7 percent to 62 cents.
The new dividend, up from the company's previous dividend of 58 cents, will be paid May 15 to shareholders of record as of April 24.
The New York-based company, best known for toothpaste and dish soap, also said Thursday that Nikesh Arora, who is senior vice president and chief business officer for Google Inc., will join its board March 15.
Arora, 44, joined Google in 2004 and was named to his current position in January 2011. He previously served as chief marketing officer of the T-Mobile international division of Deutsche Telekom AG.
In afternoon trading, Colgate-Palmolive shares rose $1.04 to $93.87.