Kimberly-Clark Authorizes New Share Repurchase Program and Declares Quarterly Dividend

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Nov 13, 2014, 02:25 ET

DALLAS, Nov. 13, 2014 /PRNewswire/ -- The board of directors of Kimberly-Clark Corporation (NYSE: KMB) today authorized a new share repurchase program for up to 40 million shares of common stock or $5 billion. The authorization augments the current 50 million share authorization from January 2011 that is expected to be completed in the first quarter of 2015.

In addition, the board of directors has declared a regular quarterly dividend of $0.84 per share. The dividend is payable on Jan. 5, 2015, to stockholders of record on Dec. 5, 2014. Kimberly-Clark has increased its dividend for 42 consecutive years and 2014 marks the 80^th straight year it has paid a dividend to shareholders.

Chairman and Chief Executive Officer Thomas J. Falk said, "These actions reflect our strong cash flow and future growth prospects along with our commitment to allocate capital in shareholder-friendly ways. We remain convinced that successful execution of our Global Business Plan will continue to result in attractive returns to shareholders."

About Kimberly-Clark
Kimberly-Clark and its well-known global brands are an indispensable part of life for people in more than 175 countries. Every day, nearly a quarter of the world's population trust K-C's brands and the solutions they provide to enhance their health, hygiene and well-being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds No. 1 or No. 2 share positions in more than 80 countries. To keep up with the latest K-C news and to learn more about the Company's 142-year history of innovation, visit www.kimberly-clark.com or follow us on Facebook or Twitter.

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SOURCE Kimberly-Clark Corporation