Dividend Capture Strategy: 15 High Yield Stocks to Buy in April

2. Colgate-Palmolive Company (NYSE:CL)

Ex-Dividend Date: April 17

Dividend Yield as of March 30: 2.24%

Colgate-Palmolive Company (NYSE:CL) is a US-based multinational company that is well-known for its strong presence in Oral Care, Personal Care, Home Care, and Pet Nutrition. As a consumer staples company, it tends to remain stable during economic downturns, as essential products like dish soap and deodorant are less likely to be cut from household budgets compared to discretionary items. While many companies in the household goods sector have struggled with declining sales volumes due to industry challenges, Colgate-Palmolive has managed to defy the trend.

In its fiscal 2024 earnings report, Colgate-Palmolive Company (NYSE:CL) crossed the $20 billion revenue mark for the first time, reflecting a 4% year-over-year increase. This also marked its sixth consecutive year of organic sales growth within or exceeding its target range of 3% to 5%. Strong sales momentum and improved operational efficiency bolstered its bottom line, with net income and earnings per share achieving double-digit growth from the previous year.

Colgate-Palmolive Company (NYSE:CL) holds a strong dividend growth history, spanning 62 consecutive years. This dividend growth was supported by the company’s robust balance sheet. In FY24, it reported an operating cash flow of over $4 billion, which grew by 10% from the same period last year. Its free cash flow of $3.5 billion also surged from $3 billion in the prior-year period. The company also returned $3.4 billion to shareholders during the year through dividends and share repurchases. The stock has a dividend yield of 2.24%, as of March 30.