European dividend aristocrat L’Oréal (OR.PA) and the world’s biggest make-up company revenues reached 29.87 billion euros as reported on 31 December 2019, up 10.9%. On a like-for-like basis, sales growth reached 8.0%. Net profit reached 4.4 billion euros, compared to 4 billion euros in 2018.
On the news, L’Oréal is trading at $277 up almost 3.5%.
L’Oréal believes that the outbreak of the new coronavirus in China and the measures to prevent it from spreading will have an impact on the beauty products market, but the company cannot yet estimate how big that impact will be.
At the upcoming annual shareholders meeting on 21 April 2020, L’Oréal’s Board of Directors will propose a dividend of 4.25 euros, up 10.4%, compared to the dividend paid in 2019. This will be the 38th consecutive year of dividend increases.
Read also our in focus article on L’Oréal
L’Oréal is also part of our international dividend growth portfolio