Avon Products (NYSE:AVP)
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Avon Declares Regular Quarterly Dividend
Shareholders Approve Increase in Authorized Shares
NEW YORK, May 6 /PRNewswire-FirstCall/ -- Avon Products, Inc. today declared
a regular quarterly dividend on its common stock of $.28 per share -- or $.14
per share on a post-split basis -- payable June 1, 2004, to shareholders of
record May 17, 2004.
The company also announced that shareholders at the company's annual meeting
approved an increase in the number of authorized shares of common stock from
800 million to 1.5 billion. Avon had announced previously (on February 3,
2004) that its Board of Directors had declared a two-for-one stock split in the
form of a 100% stock dividend, payable on or about May 28, to shareholders of
record on May 17, 2004, contingent upon shareholder approval of the increase in
authorized shares.
New stock representing one additional share for each share held at the close of
trading on the May 17 record date will be issued to shareholders in book entry
form.
Avon is the world's leading direct seller of beauty and related products, with
$6.8 billion in annual revenues. Avon markets to women around the world
through 4.4 million independent sales Representatives. Avon product lines
include such recognizable brand names as Avon Color, Anew, Skin-So-Soft, Avon
Solutions, Advance Techniques Hair Care, Avon Naturals, Mark, and Avon
Wellness. Avon also markets an extensive line of fashion jewelry and apparel.
More information about Avon and its products can be found on the company's web
site http://www.avoncompany.com/.
DATASOURCE: Avon Products, Inc.
CONTACT: Media - Victor Beaudet, +1-212-282-5344, Investors - Renee
Johansen, or Rob Foresti, +1-212-282-5320, all for Avon Products, Inc.
Web site: http://www.avoncompany.com/
Company News On-Call: http://www.prnewswire.com/comp/079575.html