10 Best January Dividend Stocks To Buy

4. Colgate-Palmolive Company (NYSE:CL)

Ex-Dividend Date: January 21

Colgate-Palmolive Company (NYSE:CL) is an American manufacturing company that specializes in a wide range of consumer products. The company is a recognized name in the consumer goods sector, offering products in Oral Care, Personal Care, Home Care, and Pet Nutrition. Recently, it has focused heavily on sustainability and broadening its product offerings. Its goal to make all packaging recyclable by 2025 highlights the increasing environmental concerns of consumers and regulators. Through efforts such as partnerships for renewable energy, the company is aligning its operations with future market needs and regulatory expectations. The stock has delivered a return of nearly 13% in the past year.

In the third quarter of 2024, Colgate-Palmolive Company (NYSE:CL) reported revenue of $5.03 billion, reflecting a 2.4% increase from the same period the previous year. This figure surpassed analysts’ expectations by $27.2 million. The company has retained its leadership in the toothpaste market, with a global market share of 41.6% year to date. Additionally, it has maintained its position as the leader in the manual toothbrush segment, holding a global market share of 32.3% during the same period.

In the first nine months of the year, Colgate-Palmolive Company (NYSE:CL) reported an operating cash flow of almost $3 billion. On December 11, the company announced a quarterly dividend of $0.50 per share, consistent with the previous payout. With a history of increasing its dividends for 62 consecutive years, CL is one of the best dividend stocks to buy in January. The stock supports a dividend yield of 2.22%, as of January 5.

The number of hedge funds tracked by Insider Monkey reported owning stakes in Colgate-Palmolive Company (NYSE:CL) grew to 54 in Q3 2024, from 52 in the previous quarter. The collective value of these stakes is more than $3.4 billion. Rajiv Jain’s GQG Partners owned the largest stake in the company in Q3.