Clorox Raises Dividend 15%

Manufacturer and marketer of consumer products The Clorox Company (CLX), has raised its quarterly dividend by 15%. Clorox are the folks behind consumer products ranging from Glad bags and Brita water filters, to Armour All. Clorox has also announced that it will buy back an additional $750 million in stock.

Here is a glance at Clorox's recent dividend history in fiscal years:

2005 = $1.10/share

2006 = $1.14/share

2007 = $1.20/share

2008 = $1.60/share

2009 = $1.84/share (estimate)

This represents an average compounded annual increase of the dividend of over 13%. Clorox recently announced earnings which included an outlook that was better than the street was expecting. This would explain the spike in the stock from its lows. The company is currently fighting against rising resin costs as it is being affected like everyone else by high oil prices. The company is also integrating a major acquisition and have just launched several new products.

Disclosure: The author owns shares in Clorox (CLX).