Colgate Chairman and Chief Executive Officer Reuben Mark said, "This increase reflects confidence in the strength of Colgate's worldwide consumer products business and in our continued profitable growth. The Board's action also underscores our commitment to increasing shareholder value: Colgate's common stock dividend has increased at a compound rate of 17 percent annually over the past five years."

The higher common dividend is payable August 15, 1994 to shareholders of record July 25, 1994. Directors also declared the regular $1.0625 quarterly dividend on the $4.25 preferred stock, payable on September 30, 1994 to shareholders of record September 15, 1994.

Colgate-Palmolive is a leading global consumer products company, focusing on the core businesses of Oral Care, Personal Care, Household Surface Care, Fabric Care and Pet Dietary Care. Colgate markets its products in over 170 countries under such internationally recognized brand names as Colgate, Palmolive, Ajax, Mennen, Fab, Irish Spring and Softsoap, as well as Hill's Science Diet and Hill's Prescription Diet.