NEW YORK--(BUSINESS WIRE)--Nov. 7, 2018--
The Board of Directors of Coty Inc. (NYSE:COTY) declared a quarterly
cash dividend of $0.125 per common share, payable on December 14, 2018,
to shareholders of record on November 30, 2018. This dividend will be
considered a return of capital.
About Coty Inc.
Coty is one of the world’s largest beauty companies with over $9 billion
in revenue, an iconic portfolio of brands and a purpose to celebrate and
liberate the diversity of consumers’ beauty. We believe the beauty of
humanity lies in the individuality of its people; beauty is at its best
when authentic; and beauty should make you feel happy, never sad. As the
global leader in fragrance, a strong number two in professional salon
hair color & styling, and number three in color cosmetics, Coty operates
three divisions: Consumer Beauty, which is focused on mass color
cosmetics, mass retail hair coloring and styling products, body care and
mass fragrances with brands such as COVERGIRL, Max Factor, Bourjois and
Rimmel; Luxury, which is focused on prestige fragrances and skincare
with brands such as Calvin Klein, Marc Jacobs, Hugo Boss, Gucci and
philosophy; and Professional Beauty, which is focused on servicing salon
owners and professionals in both hair and nail, with brands such as
Wella Professionals, Sebastian Professional, OPI and ghd. Coty has
20,000 colleagues globally and its products are sold in over 150
countries. Coty and its brands are committed to a range of social causes
as well as seeking to minimize its impact on the environment.
For additional information about Coty Inc., please visit www.coty.com.
Forward-Looking Statements
Certain statements in this communication may be “forward-looking
statements” within the meaning of the Private Securities Litigation Act
of 1995. These forward-looking statements reflect Coty Inc.’s (“Coty”)
current views with respect to, among other things, Coty’s capital
allocation strategy and payment of dividends, future ability to return
cash to shareholders, and Coty’s ability to support its planned business
operations in the near-term and long-term basis. These statements are
based on certain assumptions and estimates that Coty considers
reasonable and are subject to a number of risks and uncertainties, many
of which are beyond the control of Coty, which could cause actual events
or results to differ materially from such statements, including: (1) a
change in Coty’s capital allocation and cash management priorities,
including M&A activity, impacting the return of cash to shareholders and
its financial ability to declare dividends on a quarterly payout
schedule or at all, including declaration and payment of future
quarterly dividends for the remainder of the fiscal year ending June 30,
2019, and the amount of any such dividend; (2) Coty’s ability to achieve
its global business strategies, compete effectively in the beauty
industry and achieve the benefits contemplated by its strategic
initiatives (including sell-through of its relaunched brands,
enhancement of its innovation pipeline, focus on emerging markets and
channels, improvement of in-store execution, and reduction of discounts
in certain markets), and its ability to manage the continued integration
of the P&G Beauty Business and other recent acquisitions with Coty’s
business, operations, systems, financial data and culture and the
ability to realize synergies, avoid future supply chain and other
business disruptions, reduce costs and realize other potential
efficiencies and benefits (including through Coty’s restructuring
initiatives), cash flow and liabilities , each at the levels and costs
and within the expected time frame or at all; (3) restrictions imposed
on Coty through its license agreements, outstanding senior unsecured
notes and credit facilities, including restrictions on Coty’s ability to
pay dividends and changes in the manner in which Coty finances its debt
and future capital needs, including potential acquisitions and
restructuring, business realignment and other costs; (4) global
political and/or economic uncertainties and disruptions or major legal,
regulatory or policy changes and/or the enforcement thereof that affect
Coty’s business, financial performance, operations or products,
including the impact of Brexit; and (5) other factors described from
time to time in documents that Coty files with the U.S. Securities and
Exchange Commission (the “SEC”). More information about these and other
factors is included under the heading “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in Coty’s Quarterly Report on Form 10-Q for the quarter
ended March 31, 2018 and other periodic reports Coty has filed and may
file with the SEC from time to time. All forward-looking statements made
in this communication are qualified by these cautionary statements.
These forward-looking statements are made only as of the date of this
communication, and Coty does not undertake any obligation, other than as
may be required by law, to update or revise any forward-looking or
cautionary statements to reflect changes in assumptions, the occurrence
of events, unanticipated or otherwise, or changes in future operating
results over time or otherwise.
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Source: Coty Inc.
Coty Inc.
Investor Relations
Christina
Frank, +1 212 389-6802
christina_frank@cotyinc.com
or
Olga
Levinzon, +1 212 389-7733
olga_levinzon@cotyinc.com
or
Media
Jennifer
Friedman, +1 917 754-8399
jennifer_friedman@cotyinc.com