Company: CL
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001308179-25-000223
Chunk: 19

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 19
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 volume and pricing growth and was broad based, as we delivered organic sales growth across all four of our categories and in all six divisions. We also maintained our strong balance sheet and the Board of Directors authorized an increase in the quarterly cash dividend, effective in the second quarter of 2024, as part of our commitment to, and strong record of, returning value to shareholders.

| OPERATING 
 RESULTS1  |

| 2024 ORGANIC SALES GROWTH 
 7.4%                      
 vs. 2024 Target of 5.0%   |     | 2024 BASE BUSINESS EARNINGS PER SHARE 
 $3.60                                 
 vs. 2024 Target Range of $3.37-$3.42  |     | 2022-2024 FREE CASH FLOW PRODUCTIVITY2 
 100.7%                                 
 vs. 2022-2024 Target of 95%            |

| 1 | Please                                                                                 
 see Annex A for reconciliations of organic sales growth to net sales growth calculated 
 in accordance with GAAP, of Base Business Earnings Per Share to Diluted earnings per   
 share calculated in accordance with GAAP and of free cash flow before dividends to Net 
 cash provided by operations calculated in accordance with GAAP.                        |

| 2 | “Free                                                                                  
 Cash Flow Productivity” is defined as free cash flow before dividends as a percentage  
 of net income including non-controlling interests as reported in our audited financial 
 results, which for 2022-2024 was 111.5%. The P&O Committee reduced our 2022-2024       
 Free Cash Flow Productivity results for compensation purposes to 100.7%, as described  
 on page 42.                                                                            |

| RETURN TO SHAREHOLDERS |

| TOTAL              
 SHAREHOLDER RETURN | 130                  
 CONSECUTIVE YEARS OF 
 DIVIDEND PAYMENTS    
 62                   
 CONSECUTIVE YEARS OF 
 DIVIDEND INCREASES   | $3.4 billion             
 RETURNED TO SHAREHOLDERS |

Our strong 2024 performance and shareholder return, and the resulting incentive payments to Colgate people throughout the organization, reflect the strength of our brands and our commitment to and superior execution of our strategic priorities during this time of continuing challenges in the external environment. Going forward, we remain focused on delivering long-term shareholder return and building long-term business success through excellence in corporate governance and the design and implementation of our strategy to deliver consistent compounded earnings per